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Unions Not Sold on Divesting Pension Systems’ Fossil-Fuel Stock Holdings

Posted 12/22/17

A proposal in Albany to have the state pension system divest from fossil-fuel stocks is getting pushback from unions that fear doing so would be a real money-loser.

According to a report from Global Analytic Services, Inc., such a sell-off could result in a $200-million loss to the pension system over five years and mushroom into a $2.8-billion hit over 20 years.

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