New York S09873 mandates SUNY and CUNY trustees to stop investing in and divest from certain publicly traded fossil fuel companies.

New York S09873 amends the education law to require the boards of trustees of SUNY and CUNY to refrain from investing in and divest from stocks, debt, or other securities of the two hundred largest publicly traded fossil fuel companies, as determined by carbon content in their proven oil, gas, and coal reserves. The divestment must be completed within one year for companies engaged in coal mining, extraction, or production, and within four years for other fossil fuel companies. Affiliated nonprofit organizations or foundations must also divest from these companies.

New York S09873 mandates SUNY and CUNY trustees to stop investing in and divest from certain publicly traded fossil fuel companies.

New York S09873 amends the education law to require the boards of trustees of SUNY and CUNY to refrain from investing in and divest from stocks, debt, or other securities of the two hundred largest publicly traded fossil fuel companies, as determined by carbon content in their proven oil, gas, and coal reserves. The divestment must be completed within one year for companies engaged in coal mining, extraction, or production, and within four years for other fossil fuel companies. Affiliated nonprofit organizations or foundations must also divest from these companies.