The fight to force financiers and insurers to abandon fossil fuels may soon get some powerful new recruits: the New York City Council.
On Monday, lawmakers in the nation’s largest city are set to introduce a resolution to formally demand the banks, asset managers and insurance giants with which the city government does business divest from oil, gas and coal.
The resolution, shared with HuffPost in advance, names banking behemoth JPMorgan Chase, asset manager BlackRock and insurer Liberty Mutual as targets of the statement. The move comes as top U.S. banks, including JPMorgan Chase, are oil and gas producers crushed by plummeting oil prices.
As New York City’s death toll from the COVID-19 pandemic soars past 10,000, the legislators