Public Hearing on Fossil Fuel Divestment

Senate Standing Committee on Finance
Chair: Senator Liz Krueger
Public Hearing: To hear from experts and stakeholders on the issue of divesting the NYS Common Retirement Fund from fossil fuels as outlined in S.2126 /A.1536
Place: Van Buren Hearing Room A, Legislative Office Building, 2nd Floor, Albany, NY 12247
Time: 10:00 A.M.
Contact: Justin Flagg (212) 490-9535
Media Contact: Justin Flagg (212) 490-9535
ORAL TESTIMONY BY INVITATION ONLY

To view a livestream of the event, click here.

SUBJECT: Divesting the state pension fund from fossil fuels

PURPOSE: To discuss the issue of divesting the New York State Common Retirement Fund from fossil fuels as outlined in the Fossil Fuel Divestment Act, S.2126/A.1536

The Fossil Fuel Divestment Act, S.2126/A.1536, would require the State Comptroller to divest the New York State Common Retirement Fund from all holdings in the 200 largest publicly traded fossil fuel companies, as defined by carbon content in the companies’ proven oil, gas, and coal reserves (the CU 200). Divestment from coal companies would be completed within one year; divestment from all other fossil fuel companies would be completed within five years. This hearing will be an opportunity to discuss fossil fuel divestment and this legislation specifically from a variety of perspectives.

Oral testimony is by invitation only. Testimony will be limited to 5 minutes’ duration.

Due to time constraints, only a limited number of witnesses can be accommodated at the hearing. However, any party may provide written testimony via email to flagg@nysenate.gov, at any time up to seven days after the date of the hearing.

Ten copies of any prepared testimony should be submitted at the hearing registration desk.  The Committee would appreciate advance receipt of prepared statements to the above email address. 

In order to further publicize these hearings, please inform interested parties and organizations of the Committee’s interest in hearing testimony from all sources.

In order to meet the needs of those who may have a disability, the Senate, in accordance with its policy of non-discrimination on the basis of disability, as well as the 1990 Americans with Disabilities Act (ADA), has made its facilities and services available to all individuals with disabilities.  For individuals with disabilities, accommodations will be provided, upon reasonable request, to afford such individuals access and admission to Senate facilities and activities.