NYC sues, divests from oil firms over climate change

January 10, 2018

New York City is taking on the oil industry on two fronts, announcing a lawsuit Wednesday that blames the top five oil companies for contributing to global warming and saying the city will sell off billions in fossil fuel investments from the city's pension funds.

Democratic Mayor Bill de Blasio received immediate blowback from some of the companies, while winning praise from environmentalists and others.

"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," the mayor said. "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 city alleges the fossil fuel industry was aware for decades that burning fuel was impacting climate change.

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