New York S00954 mandates the New York state teachers' retirement system to divest from fossil fuel companies.
New York S00954, known as the teachers' fossil fuel divestment act, requires the New York state teachers' retirement system to divest from any stocks, securities, equities, assets, or other obligations of corporations or companies included on an exclusion list of coal producers and oil and gas producers. The act defines coal producers and oil and gas producers based on revenue and production levels. The retirement system must cease new investments in these companies and divest from existing ones within specified timeframes.
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