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Trustees of New York City's $189 Billion pension funds today announced a goal to divest City funds from fossil fuel reserve owners within five years, which would make the City the first major US pension plan to do so. In a first-in-the-nation step towards the goal of divestment, the Mayor and Comptroller will submit a joint resolution to pension fund trustees to begin analyzing ways to divest from fossil fuel owners in a responsible way that is fully consistent with fiduciary obligations. [Source: City of New York]
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