Fidelity bank banner UBA banner
Chevron, ExxonMobil, Shell, 2 other oil giants sued over global warming

By News Express on 11/01/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,125

•New York Mayor Mayor Bill de Blasio
•New York Mayor Mayor Bill de Blasio

New York City is making a move against the fossil fuel industry on two fronts.

Democratic Mayor Mayor Bill de Blasio announced Wednesday the city is suing five big oil companies for global warming and divesting $5 billion in oil investments from the city’s pension funds.

“We’re bringing the fight 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 alleged Wednesday. “As climate change continues to worsen, it’s up to the fossil fuel companies whose greed put us in this position to shoulder the cost of making New York safer and more resilient.”

The mayor compared the oil companies to cigarette manufacturers, who knowingly made and marketed a product they knew was deadly.

Three of the five companies the city is suing – Chevron, ExxonMobil and Shell – said the lawsuit has no merit and that the courtroom is not the place to fight global warming.

BP and ConocoPhillips declined to comment.

Mayor de Blasio and City Comptroller Scott Stringer also announced plans to sell off $5 billion in fossil fuel investments from the city’s $189 billion pension fund for employees – the largest such divestment of any U.S. city.

“Safeguarding the retirement of our city’s police officers, teachers and firefighters is our top priority and we believe that their financial future is linked to the sustainability of the planet,” Stringer said.

New York Governor Andrew Cuomo announced similar plans for the state pension funds last month.

Several other U.S. and European cities, universities and global funds have also sold off their oil company interests. (VOA)

Source News Express

Posted 11/01/2018 8:54:01 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Nigeria a volcano waiting to explode —Fayose; flays...

Cult Head imposes curfew on Ile-Ife as Ooni's...

Cross River sets target to eradicate neglected tropical...

Goal-crazy Manchester City take over EPL top spot...

Delta IPP to be commissioned by year’s end...

What we are doing to stop kidnapping: IGP...

Mugabe boasts he will not step down, die...

Reps give Osinbajo marching orders to swear-in new...

It will be a cloudy Sunday spiced with...

Additional 180,000 jobs coming as Dangote moves to...

IPOB rejects restructuring, insists on referendum

US patrol officer injured in Canadian PM’s motorcade...

 

Latest News EFCC lists 22 witnesses to testify against Fayose IPOB reveals Nnamdi Kanu’s position on 2019 Presidential election Boko Haram sacks two communities in Borno Ministry releases details of billions spent on 292 water projects in 7 years 45 Nigerian firms flaunt potential at SNEPCo exhibition 2019: Arewa youths threaten to stop Atiku over Fani-Kayode, Nnamdi Kanu Minimum Wage: NLC threatens to embark on fresh industrial action on November 6 I will contest in 2019, says Shehu Sani Don’t disenfranchise Zamfara electorate, CLO tells INEC •Urges Buhari to call Oshiomhole to order Wike an Action Governor — Prof. Gidado Buhari set to visit Seme border Police arrests drug store operator for murder in Borno

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (408,396 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (383,308 views) Shameless Genevieve Nnaji exposes breasts in public (315,709 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (258,701 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (238,165 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,847 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (204,656 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (186,079 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (170,915 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (166,221 views) Lagos plane crash: Journalist releases victims’ names (161,909 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,621 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (70) Business & Economy (3,701) Business Verdict (52) Columnists (949) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (561) Features (660) Global Business Monitor (304) International (2,559) Interview (165) Live Commentary (28) Love Matters (145) News (39,805) Opinion (1,126) Pidgin (13) Politics (7,325) Religion (883) Sports (1,738) Stock Watch (35) AMA & Al Jazeera Global Update

 

NLNG Prize for Literature 2018

Zenith Zero Balance

CBN banner

Firstmobile banner

 

 

 

NEWS EXPRESS TV

LIBYA vs NIGERIA 2-3 Goals Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement