As local governments enact deep carbonization programs moving towards a carbon neutrality goal, they are exploring ways in which to divest from fossil fuels. New York City is one of the first to make such a commitment - agreeing to divest local government investments from fossil fuels.
Measured, quantitative outcomes / project impact
When New York City announced intentions to divest city pension funds from fossil fuel reserve owners by 2022, the move positioned NYC at the center of the global divestment movement. Providing the first in-depth look at the steps NYC took to reach a divestment commitment, ICLEI’ s case study shows how the the largest municipal pension system in the United States has begun to divest billions of dollars from fossil fuels — and demonstrates to peer cities, large and small, that the principles and processes behind fossil fuel divestment are transferable to nearly any location where the will to divest exists.