Mr.de Blasio also announced that the city has filed a lawsuit against five top energy producers, blaming the companies for greenhouse-gas emissions that he said have produced disasters such as Hurricane Sandy in 2012.
"Defendants are also responsible for leading the public relations strategy for the entire fossil fuel industry, downplaying the risks of climate change and promoting fossil fuel use despite the risks", they said. "Rising sea levels, increasing temperatures and precipitation, and the likelihood of more frequent and intense flooding threaten our neighborhoods and infrastructure while exacerbating many underlying social inequities".
Plans by the City of NY to sue and divest $5 billion worth of pension funds from oil companies accused of harming the environment have been heralded as a major step by environmentalists.
In addition to the lawsuit, New York City also announced on Wednesday its intention to divest some $5 billion in its pension funds from oil and gas companies. Suspending the growth of gas-fired generation capacity could indeed lead to serious problems with energy supply in NY and New England.
While a spokesman from Shell said climate change was a complex issue that the courts shouldn't handle, the other four did not comment.
The money that the city pulls out of fossil fuel investments would need to be reinvested and Netram questions if it will be able to get comparable returns.
Kenneth P. Cohen, a representative for Exxon, flatly denied suppressing climate change research.
Limestone County likely home for $1.6B Toyota-Mazda plant
It produces most of the cars and trucks it sells in the U.S.at those USA plants and exports some of those cars to other markets. USA new vehicle sales fell 2 percent in 2017, after hitting a record high in 2016, and are expected to fall further in 2018.
ExxonMobil spokesman Scott Silvestri says the company has made good faith attempts to address climate change. The revelation was accompanied by reports that NYCHA, the city authority that runs the housing projects, had falsified lead-inspection reports, prompting calls for independent state monitoring.
Five years ago, Superstorm Sandy ripped through the most populous city in the United States, spreading destruction fueled by climate change.
"Instead of focusing on politics, de Blasio should be focusing on his fiduciary duties to the employees of NY".
Even the head of the oil and gas industry's largest lobbying group publicly says that climate change is real and he wants to discuss solutions.
In his victory speech the night after his reelection, Mr.de Blasio claimed his having won 66 percent of the votes cast gave him a mandate to make NY the "fairest big city in America". "Our announcement sends a message to the world that a brighter economy rests on being green", Stringer said in a statement.
"Today Mayor de Blasio turned his back millions of first responders, police officers and public employees who depend on their pensions to provide for themselves and their families in retirement", said Karen Moreau of the American Petroleum Institute, the largest US oil and gas lobbying group.