De Blasio Claims He Divested NYC Pensions From the Fossil Fuel Industry, but Reports Show Otherwise

Bill de Blasio

New York City Mayor Bill de Blasio (D-N.Y.) hit the campaign trail to brag about his city’s divestment from fossil fuels, but reports show that isn’t true.

On Tuesday, President Donald Trump spoke about the resurgence of energy production in the United States, including fossil fuels like natural gas. While Trump celebrated the “energy dominance” of the country, some on the left criticized him for celebrating energy production given the potentially negative impact on the environment.

Among the critics of Trump’s environmental policy is his 2020 competitor de Blasio. During a speech on Sunday, the mayor told the crowd that he was proud to have divested billions in pensions from funds that support the fossil fuel industries.

“I’m proud to say in New York, we’ve divested $5 billion dollars from the oil companies, from the fossil fuel industry,” de Blasio claimed. “We have to be the party that says, ‘yes we’re experiencing global warming and we can do something about it.’”

Although de Blasio tried to brag about the situation, a report from Politico found it wasn’t true.

So far, the city has only announced that it intended to research the impact the transition would have on New Yorkers’ pensions but it that study hasn’t even concluded yet.

Even if the study was complete, Politico notes that de Blasio doesn’t have the authority to make such a decision. The pensions are split under the jurisdiction of five boards of trustees who ultimately make the decision. While the mayor’s office does have a voice on each board, it doesn’t have a majority on any of them.

Local Teamsters President Greg Floyd pushed back on de Blasio in an interview with Politico, saying:

“The prudent thing to do when it comes to funds and pensions with this enormous responsibility is to do a study, not do a knee-jerk reaction because you think it gets you a few political votes because it looks like a good progressive issue.”

Although de Blasio has been making big claims on the campaign trail, he hasn’t been making very many big moves in the polls. De Blasio has failed to register in several recent polls.