De Blasio’s Divestment Scheme Advances Radical Political Agenda, Risking Tax Dollars, Pensions

Reclaim New York Initiative offered the following response to the Mayor’s, and City Comptroller’s announcement that New York City would pursue divesting the public pension funds from oil and gas company investments: 

“This isn’t about climate change or blunting the influence of energy companies. It’s about national politics. The Mayor’s willingness to risk taxpayer dollars and worker pensions, purely for political gains, is despicable.

“If Mayor de Blasio wants to play national politics by wandering around the Iowa suburbs, fine, but he should not use the pension fund to bow to radical special interests.

“Politicizing a pension fund already facing long-term challenges to meet its obligations is irresponsible, and a disaster waiting to happen. It’s also dereliction of duty for the City Comptroller to support the move.”