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Day two of David Pecker testimony wraps in NY Trump trial; Supreme Court hears arguments on Idaho's near-total abortion ban; ND sees a flurry of campaigning among Native candidates; and NH lags behind other states in restricting firearms at polling sites.

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The Senate moves forward with a foreign aid package. A North Carolina judge overturns an aged law penalizing released felons. And child protection groups call a Texas immigration policy traumatic for kids.

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Wyoming needs more educators who can teach kids trade skills, a proposal to open 40-thousand acres of an Ohio forest to fracking has environmental advocates alarmed and rural communities lure bicyclists with state-of-the-art bike trail systems.

NYC Unions Get Update on Fossil-Fuel Divestment

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Monday, October 17, 2016   

NEW YORK – New York City's public employee unions are considering a push to remove pension fund investments from fossil-fuel industries.

The five pension funds in question total around $170 billion, with more than $7 billion invested in fossil fuels. In 2015, Mayor Bill de Blasio proposed taking pension fund dollars out of coal and studying the climate impact of other investments.

According to Marc Dunlea, a steering committee member for the group 350NYC, since the divestment movement began less than four years ago, investors around the world have withdrawn about $5 trillion from those industries.

"But we don't have that many governments doing it so far,” Dunlea said. “And it would be really great to see New York City take the lead, especially since New York City is one of the cities most at risk to climate change."

Union leaders and members got an update Saturday on an in-process evaluation of the pension funds' carbon footprint. That study is expected to be completed in early 2017.

Dunlea said divestment was first raised as a moral issue, as some felt the city shouldn't invest in industries that put it at risk of rising sea levels. But it turned out to be sound investment advice on a purely financial level as well.

"If they had divested when we asked three-and-a-half years ago and invested the money in other parts of the stock market,” he said, "we'd have about $5 billion more than we presently have."

And the value loss in the fossil-fuel industry has accelerated since the Paris climate agreement, when nations around the globe agreed to keep global temperatures from rising more than 1.5 degrees Celsius in this century, Dunlea said.

"The world has said we have to stop using fossil fuels as rapidly as we possibly can,” he said. "And if you are investing in fossil fuels, you do not have a future economic viability plan."

"350" is a grassroots network of campaigns to curb climate change. On Monday, 350 International will relaunch its efforts to promote divestment from fossil fuels, making divestment in New York City and State priorities for the coming year.



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