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THIS WEEK IN CLIMATE SOLUTIONS

By divesting from fossil fuels, New York City's pension funds are demonstrating how cities can align their financial goals with their climate commitments, achieving both financial success and environmental responsibility. This success story raises the question of whether Philadelphia should follow a similar strategy to improve its pension funding while combating climate change, especially given the lack of federal leadership on the issue.

What's Working

Story by Courtney Duchene, The Philadelphia Citizen

  • Ideas We Should Steal: Divest Fossil Fuels From City Pensions

    Following the success of New York City's divestment of pension funds from fossil fuels, a process that started in 2015, other cities around the US are exploring ways to achieve net-zero portfolio emissions. In most cases, the divested pension funds have performed at least as well financially as a city’s non-divested funds.
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