New York S03847 mandates SUNY and CUNY trustees to divest from stocks, debt, or securities of certain fossil fuel companies.

New York S03847 requires SUNY and CUNY trustees to refrain from investing in and divest from stocks, debt, or other securities of certain publicly traded fossil fuel companies. The bill mandates that divestment from companies engaged in coal mining, extraction, or production must be completed within one year of the bill's effective date. Trustees can cease divestment if the total asset value falls below specific thresholds, but must report to the attorney general and higher education committees. Affiliated nonprofit organizations or foundations must also divest and report similarly.

New York S03847 mandates SUNY and CUNY trustees to divest from stocks, debt, or securities of certain fossil fuel companies.

New York S03847 requires SUNY and CUNY trustees to refrain from investing in and divest from stocks, debt, or other securities of certain publicly traded fossil fuel companies. The bill mandates that divestment from companies engaged in coal mining, extraction, or production must be completed within one year of the bill's effective date. Trustees can cease divestment if the total asset value falls below specific thresholds, but must report to the attorney general and higher education committees. Affiliated nonprofit organizations or foundations must also divest and report similarly.