The NYS Comptroller's office must completely divest the NYS Common Retirement Fund from fossil fuel interests and Israeli bonds as both investments worsen and intensify climate change, conflict, and inequality.

As of last year, the NYS Common Retirement Fund still held nearly $5 billion in fossil fuel investments. In February, the Comptroller’s office announced partial divestment from a handful of fossil fuel companies, including $25 million from their total half-a-billion holding in Exxonmobil. While we acknowledge the NYS Comptroller office’s commitment to net zero pension fund investments by 2040, we also recognize that the next two years are crucial for climate action and that complete fossil fuel divestment can and must happen sooner. The time for incrementalism has long since passed, and the comfortable retirement of NYS employees should not fuel climate catastrophe at home or across the globe.

DiNapoli has also recently put another $20 million into Israeli bonds, bringing NYS' pension fund to more than $267 million invested in Israel. In support of climate justice, we oppose the messaging that NYS “will always stand with” and provide Israel financial support. Israel's invasion of Gaza (in addition to violating human rights and international law) has released massive amounts of greenhouse gasses. Additionally, their blockade of Gaza and environmental apartheid policies have destroyed food sovereignty, wetlands, and has created an environment of undrinkable water. Israel has also systematically removed native trees and replaced them with wild-fire prone European pine, and has awarded gas exploration licenses for the further development of natural gas in the Gaza Marine.

Financial support for fossil fuel interests and the state of Israel contradicts the NYS Comptroller office’s commitment to ethics, as well as NYS Green Amendment that “each person shall have a right to clean air and water, and a healthful environment.” The retirement of NYS workers cannot come at the expense of the future of the next generation and the lives of those on the frontlines of conflict and climate change.