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New York City Comptroller Brad Lander took a bold stand for the future by committing to stop three public pensions — NYCERS, NYCTRS, and NYCBERS — from investing in private equity-backed fossil fuel companies in the future. – SIGN

If adopted by trustees of the three funds, this commitment will protect over $207 billion in pension assets from high-risk fossil fuel investments and it was powered by direct action and research. We worked closely with Strong for All, Climate Organizing Hub, Wet’suwet’en Nation land defenders, and South Texas Environmental Justice Network who led

Thanks to the work of grassroots activists, climate advocates, and our allies including Strong for All, Planet Over Profit, and Stand.Earth, New York City Comptroller Brad Lander took a bold stand for the future by committing to stop three public pensions — NYCERS, NYCTRS, and NYCBERS — from investing in private equity-backed fossil fuel companies in the future.

If adopted by trustees of the three funds, this commitment will protect over $207 billion in pension assets from high-risk fossil fuel investments and it was powered by direct action and research. We worked closely with Strong for All, Climate Organizing Hub, Wet’suwet’en Nation land defenders, and South Texas Environmental Justice Network who led impactful actions on the NYC Comptroller’s office, private equity firm KKR, and MoMA.

Gulf South contingent at KKR’s Hudson Yard HQ

Together, we put pressure on key players, driving this historic decision. As part of the Private Equity Climate Risks consortium, we provided reports, research and data analysis that helped local leaders make the case to stop investing in fossil fuels. Our message was clear: fossil fuel investments are not only environmentally harmful, they are also a risky financial bet for retirees.

From Wall Street to City Hall, the people-powered political pressure mounted and we won. Comptroller Lander’s decision is a critical step to addressing the looming climate-related financial risk produced by investing in these opaque funds and dirty assets — and it sets the stage for other cities to follow.

Wall Street isn’t taking this lying down. They’re already working to reverse this decision. We need to show our support. Send a thank you to Comptroller Lander for his leadership in decarbonizing public pensions and tell him to continue to stand strong against Big Oil attacks now.

Sign & Send
This decision is not just about no new fossil fuel investments, it’s about protecting the financial future of retirees and pensioners who depend on the city’s funds. As the global economy moves towards renewable energy, fossil fuel assets are becoming increasingly risky in the long term.

Once confirmed by trustees of the three pension funds, Comptroller Lander’s decision will protect the NYC pensions from the volatility and instability that fossil fuel projects bring, while also reinforcing the city’s commitment to tackling climate change head-on.

This win also sends a powerful signal to other financial institutions and asset managers. When some of the largest public pension funds in the country step up and ban investments in future private equity-backed fossil fuels, it’s a wake-up call to the entire investment community.

With NYC leading the way, we can expect other cities and institutions to follow, making a just transition a moral and financial imperative. Now, we need to show leaders that they will be supported when they make the right decisions.

Tell Comptroller Lander thank you for moving public pensions away from private equity- backed fossil fuels and to keep pushing for bold, progressive climate policies.

Together, we can ensure that workers’ retirement savings are invested in ways that protect both people and the planet.

-Oscar

Oscar Valdés Viera (he/him)
Research Manager
Americans for Financial Reform

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