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2 Largest City Unions Agree to Unload $4B In Fossil-Fuel Stocks

Posted 1/29/21

The New York City Employees' Retirement System and the city Teachers' Retirement System have divested $4 billion in fossil-fuel stocks from their investment portfolios.

The Jan. 26 announcement of the sell-off based on concerns about climate change coincided with President Biden's decision to return the United States to the 2015 Paris Climate Accords, which his predecessor had withdrawn from in June 2017.

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