“Government pension managers have a responsibility by law to

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NYC Sues Big Oil Over Climate Impacts

moncler outlet uk NEW YORK Officials in New York City on Wednesday announced a lawsuit against five major oil companiesover infrastructure damage caused by climate change and plans to divest roughly $5 billion in fossil fuel investments from the city’s five pension funds. moncler outlet uk

cheap moncler The announcement from Mayor Bill de Blasio came roughly a week after the Democrat was inaugurated for a second moncler mens jackets term. It marks his strongest action yet to address global warming and its associated sea level rise, which devastated the city with massive flooding during Superstorm Sandy in 2012. “We’re going after those who have profited and what a horrible, disgusting way to profit https://www.newmoncleroutlet.com .” cheap moncler

moncler outlet jackets The lawsuit against oil giants BP, Chevron, ConocoPhillips, ExxonMobil and Royal Dutch Shell seeks to recoup billions in climate related damages the city has already incurred, as well as pay for billions in new infrastructure and resiliency measures to fortify moncler sale the city and protect its residents moving forward, officials say. moncler outlet jackets

cheap moncler jackets sale “We’re bringing the fight moncler outlet store against climate change straight to the fossil fuel companies that knew about its effects and intentionally misled the public to protect their profits,” de Blasio moncler outlet online said in a statement ahead of Wednesday’s press conference. “As climate change continues to worsen, it’s up to the fossil fuel companies whose greed put us in this cheap moncler jackets position to shoulder the cost of making New York safer and more resilient Moncler Outlet .” cheap moncler jackets sale

New York City follows cities and counties in California and Colorado that have either filed or announced pending climate impact litigation.

moncler factory outlet Curtis Smith, a Shell spokesman, told The Associated Press that the company believes “climate change is a complex societal challenge that should be addressed through moncler sale outlet sound government policy and cultural change to drive low carbon choices for businesses and consumers, not by the courts.” moncler factory outlet

moncler outlet sale The American Petroleum Institute, a moncler outlet trade association for America’s oil and natural gas industry,called de Blasio’s announcement “disgraceful.” moncler outlet sale

moncler jacket sale “Today Mayor de Blasio turned his back on millions of first responders, police officers, firefighters and other public employees who moncler outlet sale depend on their pensions to provide for themselves and their families in retirement,” API New York Executive Director Karen Moreau said cheap moncler coats in a statement. “Government pension managers have a responsibility by law to seek the greatest return for their investors and pensions that invest in oil and natural gas companies have historically delivered a higher return than other investments. moncler jacket sale

cheap moncler outlet “We know that the future is with big ideas in clean energy, not with big polluters,”Comptroller Scott Stringer said. “We believe that a green economy is a thriving economy, and that we have to be thinking about the next fiscal quarter as well as the next quarter century. That’s what this is all about.” cheap moncler outlet

moncler outlet online Stringer added that the city is embarking on one of “the most significant divestment efforts anywhere in the world to date.” moncler outlet online

moncler outlet City officials said they hope to inspire other local governments to take similar action. moncler outlet

moncler outlet store In 2016, a coalition of attorneys general calledAGs United for Clean Powerand led by New York Attorney General Eric Schneiderman formed to combat the climate crisis. Its formation came after bombshell reports byInsideClimate Newsand TheLos Angeles Timesdetailing how ExxonMobil executives were aware of the climate cheap moncler sale risks associated with carbon dioxide emissions cheap moncler outlet but funded research to cover up those risks and block solutions. moncler outlet store

moncler sale outlet A recent investigationby the Washington basedCenter for International Environmental Lawuncovered documents showing that the oil industry, including Humble Oil (now Exxon), was aware of the potential link between fossil fuels and carbon emissionsno later than 1957. And Big Oil was “shaping science to shape public opinion” as early as the 1940s,that report found. moncler sale outlet

moncler jackets outlet In late November, Letitia James, New York City’s public advocate, held cheap moncler a first of its kind public hearing on climate change. Activists, students and voters packed an auditorium at the Borough of Manhattan Community College for hours, recounting stories of asthma exacerbated by air pollution and homes flooded by rising waters. moncler jackets outlet

cheap moncler coats New York, the birthplace of the nation’s annual climate march, has plenty of its own pollution problems. For example, in Queens, the city’s largest borough, the Ravenswood Generating Station has another two years under city law to keep burning 3,264,000 gallons of fuel oil each year, producing annual emissions equivalent to about 500,000 cars. The city is also of the world’s top garbage producers, and its recycling services lag behind other major metropoles. cheap moncler coats

moncler sale Yet buildings account for about 70 percent of the city’s emissions, creating a steep political challenge for a mayor who, to the chagrin of the progressive activists who helped elect him, spent much of monlcer down jackets his first term wooing real estate developers. In September, de Blasio’s rollout of a new set of mandates to cut emissions from big buildings faced blunt criticism from the New York City Council, which accused the mayor of acting unilaterally and failing to go far enough with the proposed rules moncler sale.

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