Climate Safe Pensions

Banks, insurance companies, and institutional investors are the great enablers of climate change. By financing fossil fuel companies, they enable these companies to continue to produce and burn more fossil fuels, driving up global greenhouse gas emissions at the very time when we need to be doing the exact opposite - urgently and rapidly decreasing emissions.

Pension funds are among the largest institutional investors in fossil fuels. They have hundreds of billions invested in the world’s largest coal, oil and gas companies. Across the United States, divestment campaigns targeting state pension funds are gathering momentum and winning victories. At Stand.earth, we are coordinating the Climate Safe Pensions Network, engaging in state and city pensions campaigns and mobilizing the power of the Stand community to pressure decision makers who control trillions of dollars. We are working to get pension managers including state treasurers and pension boards to use their leverage to force change at high emitting companies and to invest instead in renewables and climate solutions. Unless we stop the money pipeline for dangerous fossil fuel companies, we have little chance of curtailing the unfolding climate emergency.

In April 2021, New York State’s $245 billion Common Retirement Fund became the first state pension fund in North America to divest from dirty tar sands companies. In a landmark review of the pension fund’s investments, State Comptroller Tom DiNapoli decided to restrict investment in companies that are failing to prepare for a transition to a low-carbon economy.

This is a huge win for our climate movement, as we aim to disrupt the financing of fossil fuels. This is the time to push for rapid divestment of state pension funds across the United States.

Latest Press Releases and Blogs

Tar sands
20, Apr 2021
Last week, the New York State Comptroller Tom DiNapoli made a big move, turning words into action. Comptroller DiNapoli, who manages the...
Suncor Millenium mining operation. Alberta Tar/Oil Sands, Northern Alberta.
12, Apr 2021
The New York State Comptroller Tom DiNapoli announced today that the massive $246 billion New York State Common Retirement Fund completed a...