Hansen’s Advisory Services Divestment Campaign
Support fossil fuel divestment in the New York State pension and in your own financial investments.
Why is this important?
Right now, New Yorkers can take action to fight climate change and protect the state pension by supporting legislation to divest from fossil fuels.
1) Divest your personal assets from fossil fuels
2) Contact your state and local representatives to convey support for divestment bill
3) Tell NY State Comptroller Tom DiNapoli to divest from fossil fuels
There is a bill before the New York State Senate (S2126) and Assembly (A01536) that would require that Comptroller Dinapoli divest from fossil fuels in the state pension. By divesting from fossil fuel companies, New York State would join 100’s of other organizations and municipalities around the world that have also committed to fossil fuel divestment, while being seen as a leader on this important issue in the United States.
While there are many important components to divestment, the three most relevant to the discussion at the state level right now are
1) Returns of a Fossil Fuel Free portfolio
2) Fiduciary obligation
3) Shareholder advocacy
We are making the argument that
1) Fossil Fuel Free portfolios have been shown to outperform portfolios that have exposure to fossil fuel companies
2) Because of risk-adjusted return, the trustees of the pension will have met their fiduciary obligation by divesting from fossil fuel companies
3) Shareholder advocacy doesn’t work in this case, because you cannot use shareholder advocacy to change the fundamental business practice of a company
Securities and Advisory Services offered through Cadaret, Grant & Co., Inc., a Registered Investment Advisor and Member FINRA/SIPC.
Hansen’s Advisory Services and Cadaret, Grant are separate entities.