That same day, Scott Stringer, the comptroller of New York City, announced a similar fossil fuel free strategy for the city’s pension fund, which is comparable in the number of assets.
“Those are two of the 20 largest funds on the planet,” McKibben says.
“In essence, they said, ‘We're taking our winnings from this fossil fuel casino.
We're cashing out; we're going to go find some other game to play in.’ The smart money is increasingly moving in that direction,” McKibben says.
“The fossil fuel industry, which has been an awful good business for the last 200 years, isn't a good business going forward.
“Even if the federal government has certain policies it can pass, states are quite powerful in what they can do to reduce emissions.”.
This article is based on an interview that aired on PRI’s Science Friday with Ira Flatow. »