340 days until term-limits give us a new mayor.
Tuesday, January 26, 2021
Mayor de Blasio Gives City Outlook on Short Supply of Covid-19 Vaccine
Mayor Bill de Blasio: Good morning, everybody. Well, this is the first full week of the new Biden administration, and I am very, very optimistic about what this new administration is going to mean for all of us here in New York City. I had the opportunity on Friday to participate in a panel the U.S Conference of Mayors sponsored Dr. Fauci, Dr. Vivek Murthy and I together, talking about what we need to do to vaccinate people quickly. And what is so clear now is the commitment of the Biden administration and the leading health experts in the administration to finding every conceivable way to get us more vaccine quickly. Now, we are waiting, in the course of this week, for more detailed information. This is what's on everybody's mind – when will the new administration be able to give us the game plan for specifically increasing the supply of vaccine? We don't have that yet today, but we do know they're supremely focused, they’re constantly communicating with us, they're looking for every conceivable way to make things move more quickly. And there's a real dialogue going on – that's one of the huge differences here. We're talking directly to the decision-makers about the kinds of things we need and the kinds of changes we could make to move the vaccination process more quickly. I'm very hopeful we're going to get answers, starting this week and in the weeks ahead that will fundamentally change the reality. And, on top of that, the fact that the Johnson & Johnson vaccine could be just a matter of weeks away, that's going to be a game-changer as well. So, again, more work to do – urgent and important week, but a lot of hope, because we have a new kind of leadership in Washington.
Now, right here in New York City, what's the latest? Well, even though we don't have the supply of vaccine we need – we urgently need more supply, we urgently need more flexibility with the supply we have – the vaccination effort keeps moving forward. Right now, as of yesterday, the number of doses given in New York City, 628,831 since the beginning of the vaccination effort. Now, I've got to put this in perspective, 628,000 doses from the beginning – that is more people who have gotten a vaccination in New York City than the entire population of Louisville, Kentucky, which is the nation's 29th largest city. Just to show you a little bit of the perspective on how much is already happening. But this is just a small beginning compared to what we could do if we had the supply. And this is the frustrating part – right now, New York City has on-hand 19,000 first doses – 19,000 designated first doses. We're expecting 107,000 more in the next few days, the weekly resupply. But, again, look at that number, that doesn't even give us the beginning of what we need for a week. Again, we have a supply problem and we have a flexibility problem, because we can't access second doses that are being held in reserve for weeks ahead and use them now as first doses where there's such intense demand. So, we're working hard to get that flexibility, but, in the meantime, if there's not more supply and there's not more flexibility we keep having to either not provide new appointments or reschedule ones that exist – and that's not fair to anyone. We need the supply. We need the flexibility.
Now, where will we be able to go when we have those things? When we have what we need, here's the latest based on experience we've had so far – New York City will be able to vaccinate half-a-million people a week as soon as we have the supply. This is an update based on the experience we've had so far and all of our projections. We're now confident – and it’s a staggering figure – we're able to do a half-a-million vaccinations per week if we have the supply and the flexibility. We said from the very beginning for this to work, we need the federal government, State government, the manufacturers to all do everything they can to help us. I'm saying it again, if we have the full partnership of our colleagues in government and the manufacturers, we can move vaccinations at a staggering level. But we need that help and we need it now.
Look, we have mega sites like Citi Field and Yankee Stadium ready to go. We want to get those to be full-blown 24-hour operations, but we don't have the vaccine. We've got local neighborhood providers, folks who are at the frontline who can build trust, who can get folks from the neighborhood to come in, who speak their language ready to go. We want to have a really neighborhood-based approach to vaccination, decentralized right down to the grassroots. We could be doing that right now, but we don't have the supply. We need the supply and that flexibility of whatever we have on hand we can use for folks who need help immediately. That freedom to vaccinate means helping a senior citizen. Let me make this vivid, when I was out at Hillcrest High School in Queens, I talked to seniors. I talked to a woman who was 97 years old, her name was Marcia. For her, the first shot alone was life changing. She had lived in fear of the coronavirus for almost a year. Just getting that first shot, knowing that that gave her 50 percent protection, made a world of difference to her physically in terms of the protection, but emotionally as well – it gave her some peace of mind, it gave her some hope. I want to get that first shot to as many of our seniors as possible, but we need that flexibility to do it. So, we're going to fight to get it right. We're going to make sure we get our fair share of doses. And this is a message that we have to our colleagues in government – in New York City, we can move so fast. Please help us get the supply, because, I guarantee you, we can get it to people fast – fast or faster than any place else. When I'm telling you, we can do a half-million in a week, that is an indication of our confidence of how quickly we can implement if we have what we need.
Now, again, last week we talked about five guiding principles that we know will allow us to move forward and do this the right way. And this, to me, is what's crucial, getting is to go fast and connecting with people at the grassroots. That's what's going to build trust. I guarantee, if people see leaders of their own community as part of the vaccination effort and sites in their own community they're familiar with, and organizations they know and trust, that's going to make the difference. That's what we'll build, so long as we have the supply to support it.
Okay. Now, the vaccination effort is crucial to everything we're going to do. It is – the number-one concern right now is everyone's health and safety. That's why we need to vaccinate as many people as possible, as quickly as possible. But right behind that, we all need to make sure that New York City has a strong recovery, that we come back strong, that everything about this city becomes stronger in the course of 2021 – we bring back our economy, we bring back our jobs.
Nothing's more important to that than getting everyone vaccinated. But as we build that effort and that recovery, there's a lot of things we need to keep doing to help our businesses in the meantime – our small businesses in particular, as they work to survive. And we know, when everyone's vaccinated, they're going to come roaring back, so many of them. But, right now, there's something we can do that's a great thing for our restaurant community. Remember, hundreds of thousands of folks work in restaurants that are part of the heart and soul of this city. And we want everyone to do what you can to help our local restaurants. So, we have a great opportunity this week, the first ever New York City Restaurant Week To Go. So, this is a great innovation, it starts today. Everyone knows Restaurant Week, a great promotion that was started years ago and really engaged people with the restaurants of the city – great deals, people got an opportunity to try out restaurants they never had before. Well, we're doing the same thing this year with a to-go twist. So, every participating restaurant will offer at least one takeout and delivery meal for cost of $20.21 – 2021. So, this is a great opportunity to have a great experience yourself, but also to help our restaurants. I want to thank everyone that NYC & Company, they've been doing great work, promoting our restaurant community. They waive the participation fees to make it easier. They've expanded the effort deeply into all five boroughs. This will now be, as a result, the biggest restaurant week in the 29-year history of this event. And that's actually quite amazing given what we've been through – more restaurants than ever, 571 restaurants will be part of Restaurant Week To Go. And that is everywhere in the city, from Sylvia's in Harlem to Denino's on Staten Island, here's a great opportunity. Anyone who wants to see all the participant restaurants go to nycgo.com – I'm sorry, nycgo.com/restaurant-week and check out the list, get out there, and go out to one of these restaurants and purchase from them, get the takeout and delivery from them, call in that order, make a difference, help them keep moving forward. Support your favorite places and find new favorite places too, and that'll be a good thing for everyone.
Okay, let's go over today's indicators. Number one, daily number of people admitted to New York City hospitals for suspected COVID-19 – today's report, 240 patients. And the hospitalization rate, 5.18 per 100,000. Okay. Current new cases – today's number, four – excuse me, 4,743. And number three, percentage of New York City residents testing positive on a seven-day rolling average, 8.44 percent. The bottom line on all of this is that we need to keep fighting while we're getting the vaccination supply we need. When you keep fighting, use the measures that work. We know – we know the masks, we know the social distancing works. New Yorkers have been heroic. We got to keep doing it while we get the vaccine supply and turn this whole situation around.
Monday, January 25, 2021
Senator Julia Salazar - January 2021 Constituent Updates
I hope this email finds you safe and healthy in 2021! We have several updates regarding the extension of the eviction moratorium, the current vaccine eligibility of New Yorkers in Phases 1a and 1b, as well as, registration for our Cypress Hills and East New York residents facing real estate speculation harassment.
First, in late December, the New York State Legislature passed a continued eviction moratorium that would prevent tenants and mortgage holders from experiencing eviction or a foreclosure through May 1st, 2021, if they meet the below requirements:
- Lost income or increased costs during the pandemic, or
- Moving would pose a significant health risk for you or a member of your household due to an increased risk for severe illness or death from COVID-19 due to an underlying medical condition, and
- You sign and deliver this Hardship Declaration Form to your landlord, your local court, or both, you cannot be evicted until at least May 1, 2021 for nonpayment of rent or for holding over after the expiration of your lease
- Likewise, if you are a mortgage holder, you can fill out the following Foreclosure Notice
In order to submit your Hardship Declaration Form, email a copy or a picture of the completed, signed form to your landlord, and cc salazar@nysenate.gov. My office is always happy to support you in the case that you have any questions or issues.
Second, regarding vaccine eligibility, you can check your eligibility here with the "Am I Eligible?" Form by answering a few brief questions. This will help you determine whether you can currently receive a vaccine in a state-run facility. Vaccines are also available at pharmacies, hospitals and through local health departments statewide – please contact your provider of choice to schedule your vaccine appointment.
The key factors of eligibility in Phase 1a and 1b, which began on January 11th, include (but are not limited to):
- Individuals over 65
- Health care and frontline workers (including staff working in hospitals, nursing homes, etc.)
- Public-facing workers (including first responders, police officers, corrections officer, schoolteachers and faculty, professors, grocery store workers, public transit workers)
For more information, please go to this website or call 1-833-697-4829.
Finally, if you are a Cypress Hills or East New York resident who has been continually contacted or harassed by real estate speculators, you can end this harrassment by registering here. Because we recently worked to establish a Cease and Desist Zone in your neighborhood, registering here will prohibit speculators from harassing you to sell your home. https://www.dos.ny.gov/
Thank you for your continued trust; serving the constituents here in the 18th District has been the greatest honor. We look forward to continually lifting each other up, throughout these tumultuous times.
Please do not hesitate to reach out with any issues or concerns. My in-district office can be conveniently reached by email at senatorsalazarsoffice@gmail.
Warmly,
Senator Julia Salazar
NEW POLICE REFORMS
The new MOU agreement applies to all discipline cases and confirms that the NYPD and CCRB will use the penalty guidelines to guide officer penalties for misconduct. It details the following reforms:
- Commits CCRB and NYPD to follow the guidelines in all cases to accomplish the mutual goal of consistent and fair discipline recommendations.
- Requires a public, transparent memo by PD for all departures from the Discipline Matrix and CCRB recommendations.
- Empowers CCRB by ensuring access to officer employment history for any substantiated allegations.
The Matrix, released earlier this month, outlines presumptive penalties for instances of officer misconduct, which may be adjusted up or down in a set window based on aggravating and mitigating factors. Penalties escalate with repeated offenses. The reforms aim to increase fairness in the disciplinary system, and increase trust in the system among both members of the NYPD and the public, by improving:
- Accountability with penalties that are fair and proportional to the misconduct
- Transparency, so that both members of service and the community know what discipline to expect when an officer breaks the rules.
- Consistency, so similar actions are treated similarly, and there is greater concurrence between the CCRB recommendations and NYPD decisions on penalties.
The discipline reforms are part of Mayor de Blasio’s plan to fulfill the Obama Foundation Reimagining Policing Pledge. The pledge, in partnership with the My Brother’s Keeper Alliance, calls for Mayors to review, engage, report and reform. That multi-step process allowed the City to bring true community input into the formation of the discipline guidelines.
Beginning with the end of the stop-and-frisk era, the New York Police Department has continued to evolve, embarking on over seven years of reforms. The City has worked to develop policies that focus on making the lives of both residents and their communities, as well as those of officers, safer.
These reforms have led to tangible results. Between 2013 and 2019:
- Overall arrests fell 45%; misdemeanor arrests alone were more than cut in half
- Criminal summonses plummeted by 80%, from nearly 425,000 in 2013 to less than 86,000 in 2019.
- Stop-and-frisk encounters were down 93%, to less than 14,000 in 2019.
As part of the larger New York State Police Reform and Reinvention Collaborative, the City undertook an extensive community engagement process last fall to develop a concrete set of additional, new reforms that will allow police to better serve residents. After receiving extensive feedback from City officials, the New York City Police Department, justice advocates, and other stakeholders, the City will publish its initial set of new reforms in the coming weeks for public comment before bringing to the City Council for ratification on or before April 1st.
U.S. Attorney Announces Extradition Of Kenyan National For Large-Scale Trafficking Of Rhinoceros Horns And Elephant Ivory And Heroin Distribution
Indictment Alleges Conspiracy to Smuggle at Least 190 Kilograms of Rhinoceros Horns and at Least 10 Tons of Elephant Ivory Valued at More Than $7 Million
Audrey Strauss, the United States Attorney for the Southern District of New York, announced today that MANSUR MOHAMED SURUR, a/k/a “Mansour,” a Kenyan citizen, was extradited from Kenya and arrived in the United States this morning. SURUR was arrested by Kenyan authorities on July 29, 2020, in Mombasa, Kenya, on charges of conspiracy to traffic in rhinoceros horns and elephant ivory, both endangered wildlife species, which involved the illegal poaching of more than approximately 35 rhinoceros and more than 100 elephants. In addition, SURUR was charged with conspiracy to commit money laundering and conspiracy to distribute and possess with intent to distribute more than 10 kilograms of heroin. SURUR’s co-defendant, Moazu Kromah, a/k/a “Ayoub,” a/k/a “Ayuba,” a/k/a “Kampala Man,” a citizen of Liberia, was previously deported to the United States from Uganda on June 13, 2019. Co-defendant Amara Cherif, a/k/a “Bamba Issiaka,” a citizen of Guinea, was extradited to the United States from Senegal on April 3, 2020. Co-defendant Abdi Hussein Ahmed, a/k/a “Abu Khadi,” a citizen of Kenya, remains a fugitive. SURUR is expected to be arraigned later today before U.S. Magistrate Judge Debra Freeman. The case has been assigned to U.S. District Judge Gregory H. Woods.
Manhattan U.S. Attorney Audrey Strauss said: “Mansur Mohamed Surur is alleged to be a member of an international conspiracy to traffic in rhino horns, elephant ivory, and heroin. The enterprise is allegedly responsible for the illegal slaughter of dozens of rhinos and more than 100 elephants, both endangered species. The excellent work of the Fish and Wildlife Service and the DEA has put an end to this operation.”
According to allegations in the Indictment[1]:
Kromah, Cherif, SURUR, and Ahmed were members of a transnational criminal enterprise (the “Enterprise”) based in Uganda and surrounding countries that was engaged in the large-scale trafficking and smuggling of rhinoceros horns and elephant ivory, both protected wildlife species. Trade involving endangered or threatened species violates several U.S. laws, as well as international treaties implemented by certain U.S. laws.
From at least in or about December 2012 through at least in or about May 2019, Kromah, Cherif, SURUR, and Ahmed conspired to transport, distribute, sell, and smuggle at least approximately 190 kilograms of rhinoceros horns and at least approximately 10 tons of elephant ivory from or involving various countries in East Africa, including Uganda, the Democratic Republic of the Congo, Guinea, Kenya, Mozambique, Senegal, and Tanzania, to buyers located in the United States and countries in Southeast Asia. Such weights of rhinoceros horn and elephant ivory are estimated to have involved the illegal poaching of more than approximately 35 rhinoceros and more than approximately 100 elephants. In total, the estimated average retail value of the rhinoceros horn involved in the conspiracy was at least approximately $3.4 million, and the estimated average retail value of the elephant ivory involved in the conspiracy was at least approximately $4 million.
The defendants exported and agreed to export the rhinoceros horns and elephant ivory for delivery to foreign buyers, including those represented to be in Manhattan, in packaging that concealed the rhinoceros horns and elephant ivory in, among other things, pieces of art such as African masks and statues. The defendants received and deposited payments from foreign customers that were sent in the form of international wire transfers, some which were sent through U.S. financial institutions.
On a number of occasions, Kromah, SURUR, and Ahmed met with a confidential source (“CS-1”), both together and separately, concerning potential purchases of elephant ivory and rhinoceros horn. During these meetings and at other times via phone calls and electronic messages, CS-1 discussed with Kromah, SURUR, and Ahmed, in substance and in part, the terms of such sales, including the price, weight, or size of the rhinoceros horns, as well as payment, destination, and delivery options. CS-1 also discussed with Cherif via phone calls and electronic messages, in substance and in part, the terms of the sales, as well as how to send payment for rhinoceros horns from a United States bank account located in New York, New York. On or about March 16, 2018, law enforcement agents intercepted a package containing a black rhinoceros horn sold by the defendants to CS-1 that was intended for a buyer represented to be in New York, New York. From in or about March 2018 through in or about May 2018, the defendants offered to sell CS-1 additional rhinoceros horns of varying weights, including horns weighing up to approximately seven kilograms. On or about July 17, 2018, law enforcement agents intercepted a package containing two rhinoceros horns sold by the defendants to CS-1 that were intended for a buyer represented to be in New York, New York.
Separately, from at least in or about August 2018 through at least in or about May 2019, SURUR and Ahmed conspired to distribute and possess with intent to distribute more than approximately 10 kilograms of heroin to a buyer represented to be located in New York.
SURUR, 60, is charged with one count of conspiracy to commit wildlife trafficking and two counts of wildlife trafficking, which each carry a maximum sentence of five years; one count of conspiracy to commit money laundering, which carries a maximum sentence of 20 years; and one count of conspiracy to distribute and possess with intent to distribute one kilogram or more of heroin, which carries a maximum sentence of life imprisonment and a mandatory minimum sentence of 10 years in prison. The maximum potential sentences are prescribed by Congress and are provided here for informational purposes only, as any sentencing of the defendant will be determined by the judge.
Ms. Strauss praised the outstanding investigative work of the U.S. Fish and Wildlife Service and the U.S. Drug Enforcement Administration. In addition, she thanked law enforcement authorities and conservation partners in Uganda as well as the Kenyan Directorate of Criminal Investigations and the Kenyan Office of the Director of Public Prosecutions for their assistance in the investigation. Ms. Strauss also thanked the U.S. Department of Justice’s Office of International Affairs for their assistance, and noted that the investigation is continuing.
The prosecution of this case is being handled by the Office’s Complex Frauds and Cybercrime Unit. Assistant United States Attorneys Sagar K. Ravi and Jarrod L. Schaeffer are in charge of the prosecution.
The charges contained in the Indictment are merely accusations. The defendants are presumed innocent unless and until proven guilty.
[1] As the introductory phrase signifies, the entirety of the text of the Indictment and its description set forth below constitute only allegations, and every fact described should be treated as an allegation.
Governor Cuomo Updates New Yorkers On State Vaccination Program
New York's Health Care Distribution Sites Have Administered 91% of First Doses Received from Federal Government
New Yorkers Can Now Report Vaccine-Related Fraud by Calling 833-VAX-SCAM (833-829-7226) or Emailing STOPVAXFRAUD@health.ny.gov
Vaccine Dashboard Will Update Daily to Provide Updates on the State's Vaccine Program; Go to ny.gov/vaccinetracker
Governor Andrew M. Cuomo today updated New Yorkers on the state's vaccination program. The total week 6 federal vaccine allocation has been delivered to providers for administration. As of 1:00 PM today, New York's health care distribution sites have received 1,304,050 first doses and already administered 91 percent or 1,180,468 first dose vaccinations and 71 percent of first and second doses. Delivery of the week 7 allocation from the federal government will not begin arriving until the middle of this week.
The Governor also announced the launch of a new hotline focused on vaccine-related fraud. New Yorkers who suspect fraud in the vaccine distribution process can now call 833-VAX-SCAM (833-829-7226) toll-free or email the state Department of Health at STOPVAXFRAUD@health.ny.gov. Hotline staff will route complaints to the appropriate investigative agencies to ensure New Yorkers are not being taken advantage of as the State works to vaccinate the entire eligible population.
"The entirety of our week six allocation was delivered to providers yesterday and already New York has administered 91 percent of its first doses" Governor Cuomo said. "Week after week what we find is, demand for the vaccine and our ability to distribute it quickly outpaces the federal supply. This will continue to happen unless we see an increase to our weekly allocation. We must keep up the momentum we've built by vaccinating all eligible New Yorkers while ensuring fair and equitable access to those hardest hit by the COVID-19 pandemic, but we need more vaccine doses in order to do so."
New York's vast distribution network and large population of eligible individuals far exceed the vaccine supply coming from the federal government. While the federal government has increased eligibility for the vaccine to include 7 million New Yorkers, the federal supply of vaccines has actually decreased. Due to limited supply, New Yorkers are encouraged to remain patient and are advised not to show up at vaccination sites without an appointment.
Vaccination program numbers are for doses distributed and delivered to New York for the state's vaccination program, and do not include those reserved for the federal government's Long Term Care Facility program. A breakdown of the data based on numbers reported to New York State as of 1:00 PM today is as follows:
STATEWIDE BREAKDOWN
- First Doses Received - 1,304,050
- First Doses Administered - 1,180,468; 91%
- Second Doses Received - 564,600
- Second Doses Administered - 143,952
To date, New York's health care distribution sites have administered 91 percent of first doses received from the federal government but due to the federal government's limited allocation, appointments have filled up quickly. New Yorkers seeking to determine eligibility and schedule an appointment at a state-run mass vaccination site, can visit the 'Am I Eligible' website. New Yorkers may also call their local health department, pharmacy, doctor or hospital for additional information and to schedule appointments where vaccines are available.
The COVID-19 Vaccine Tracker Dashboard is available to update New Yorkers on the distribution of the COVID-19 vaccine. The New York State Department of Health requires vaccinating facilities to report all COVID-19 vaccine administration data within 24 hours; the vaccine administration data on the dashboard is updated daily to reflect the most up-to-date metrics in the state's vaccination effort.
Governor Cuomo Announces New York State's Rate of Transmission Has Dropped Below One - and COVID-19 Data - JANUARY 25, 2021
An Rt of 1 or More Means COVID-19 Will Spread Quickly
Announces All Elective Surgeries Can Resume in Erie County Amid Sustained Decline in County's Positivity Rate and Hospitalizations
8,730 Patient Hospitalizations Statewide
1,522 Patients in the ICU; 1,005 Intubated
Statewide Positivity Rate is 5.47%
167 COVID-19 Deaths in New York State Yesterday
Governor Andrew M. Cuomo today announced that New York State's rate of transmission, or Rt, has dropped below 1. An Rt of 1 or more means COVID-19 will spread quickly.
The Governor also announced that elective surgeries can resume in Erie County following a sustained decline in Western New York's positivity rate. The county's positivity has steadily declined for nearly three weeks, going from 8.6 percent on January 7 to 5.2 percent. Hospitalizations have declined from 427 on December 31 to 323. The county's hospital capacity is at 48 percent.
"We predicted that increased social activity would lead to a spike in COVID cases, and that the spike would eventually dissipate, and the ongoing fulfilment of that prediction is good news. The rate of transmission—one of the most important numbers—has now declined below one, meaning the virus is no longer spreading quickly. And when those numbers decrease, you can increase economic activity," Governor Cuomo said. "That decline has extended to Erie County, and we now feel comfortable resuming elective surgeries there and will have more adjustments over the next couple of days. This is good news, but don't get cocky with COVID—this beast has been ahead of us from the beginning and it will require New Yorkers to stay vigilant, wash their hands, wear masks and socially distance to get to the light at the end of the tunnel together."
Today's data is summarized briefly below:
- Test Results Reported - 219,538
- Total Positive - 12,003
- Percent Positive - 5.47%
- Patient Hospitalization - 8,730 (+117)
- Patients Newly Admitted - 817
- Hospital Counties - 57
- Number ICU - 1,522 (-5)
- Number ICU with Intubation - 1,005 (+8)
- Total Discharges - 122,544 (+621)
- Deaths - 167
- Total Deaths - 34,242
MAYOR DE BLASIO, COMPTROLLER STRINGER, AND TRUSTEES ANNOUNCE ESTIMATED $4 BILLION DIVESTMENT FROM FOSSIL FUELS
New York City’s largest pension funds
Mayor Bill de Blasio, Comptroller Scott M. Stringer, along with trustees of two of the City’s pension funds, today announced these funds have voted to divest their portfolios of estimated $4 billion from securities related to fossil fuel companies. The divestment, expected to be one of the largest in the world, will address the significant financial and environmental risks that these fossil fuel holdings pose to the funds and to our planet. In 2018, New York City became the first major city in the nation to commit to divesting major public pension funds from fossil fuel reserve companies. Since the initial announcement hundreds of other institutions, governments, and entities have joined this commitment. The City also partnered with C40 and London to engage other cities to pursue fossil fuel divestment.
“Fossil fuels are not only bad for our planet and our frontline communities, they are a bad investment,” said Mayor Bill de Blasio. “Our first-in-the-nation divestment is literally putting money where our mouth is when it comes to climate change. Divestment is a bold investment in our children and grandchildren, and our planet. I applaud the trustees, advocates and experts for their hard work, and I look forward to seeing more cities around the world join this call for change.”
"Climate change is the fight of our lives, and we must face it head on with everything we’ve got – for our planet, for our children, and for our retirees,” said New York City Comptroller Scott M. Stringer. “Since we announced our first-in-the-nation divestment goal, the urgent environmental and financial risks of climate change have only grown more clear. New York City is leading the way forward because we know the future is on the side of clean energy – not big polluters. I’m proud of the trustees, advocates and investment experts who worked with us to ensure a fiscally prudent and environmentally responsible divestment process and a greener future for generations to come.”
The New York City Employees’ Retirement System (NYCERS) and New York City Teachers’ Retirement System (TRS) voted to approve divestments today and the New York City Board of Education Retirement System (BERS) is expected to move forward on a divestment vote imminently. Securities were identified based on demonstrated risk from fossil fuel reserves and business activity, and the trustees will continue to evaluate risk in their portfolios to determine additional actions as warranted. The names of companies and the final scope of the divestment will be released following the sale of all targeted securities, which will be completed in a prudent manner to achieve best execution. The divestment is expected to be complete within the original five year timeline. The announcement by the Mayor, Comptroller, and Trustees follows an extensive and thorough fiduciary process to prudently assess the portfolio’s exposure to fossil fuel stranded asset risk and industry decline and other financial risks stemming from climate change.
In January 2018, the trustees announced a goal to divest from fossil fuel reserve owners within five years, consistent with fiduciary duty. The Systems retained independent investment consultants who conducted investment analyses showing the risks posed by fossil fuel companies and the prudent nature of the divestment actions adopted by the Boards.
In September 2018, the Mayor and Comptroller also jointly announced a goal of doubling the pension funds' investments in climate solutions from 1% to 2%, or about $4 billion within 3 years. Climate solutions include renewable energy, climate infrastructure, green real estate, and other investments that will help achieve the goals of the Paris Climate Agreement. The City is on track to achieve this goal.
Comptroller Stringer serves as the investment advisor to, and custodian and a trustee of, the New York City Pension Funds.