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Dear Thomas Lee, David Keefe and the members of the NYSTRS board:
As people of reason and faith who care for the earth, its inhabitants and its future generations, we call upon you to divest the New York State Teachers' Retirement System from fossil fuels. We are representatives of diverse faith traditions who feel compelled to speak out in opposition to funding fossil fuel projects based on our shared commitment to serve vulnerable communities and to be stewards of our earth and all its inhabitants.
Global warming caused by humans burning fossil fuels is bringing the earth ever closer to disaster. This past summer gave a glimpse of what the future will look like under climate collapse. Superstorms, extreme heat, flooding and drought are devastating communities and threatening worldwide food supplies. The poor and the most vulnerable among us will continue to suffer the most from these effects of climate change. Continued investment in the fossil fuel industry furthers this injustice.
The World Council of Churches has spoken of "the urgent concerns of churches around the world in relation to climate change and its adverse effects on the whole of creation, especially on vulnerable poor and indigenous communities, the irreversible ecological degradation and loss of biodiversity, the increased risk of social and political tensions, conflict and displacement in a climate-constrained world, and the moral imperative of fossil fuel divestment and of investing in a low-carbon path to realizing economic, social and ecological wellbeing and sustainability of the whole creation." -- The World Council of Churches executive committee, meeting in Nanjing, China, in November 2016.
"Experts tell us that human beings are responsible for global warming and the change in weather conditions. Logically this means that we human beings have a responsibility to reduce problems that we have caused and to finally eliminate them. Climate change is not the concern of just one or two nations. It is an issue that affects the whole of humanity and every living being on this earth. This beautiful planet is our only home. ... We have to take serious action now to protect our environment and find constructive solutions to global warming." -- His Holiness the Dalai Lama's Message to Delegates to the COP24 UN Climate Conference, November 2018.
"Our species, though selected to be a caretaker or steward on the earth, has been the cause of such corruption and devastation on it that we are in danger of ending life as we know it on our planet." -- The Islamic Declaration on Climate Change.
"The Peacemaker taught us that when you sit in council for the welfare of the people, you must not think of yourself or of your family, not even of your generation. You must make your decisions on behalf of the seven generations coming, so that they may enjoy what you have today. We see global warming as the number one issue for survival because our leaders are mandated to think about seven generations." -- Oren Lyons (Seneca) Faithkeeper, Onondaga Nation.
The Torah teachers that humankind was created on Earth, in part, to care for and protect God's creation (Genesis 2:15). The Talmudic concept of bal tashchit, do not destroy," was developed by the rabbis as an assertion of God's holy ownership of the land. We show our commitment to Creation and to each other by preventing the destruction and degradation of our planet. As is said in a powerful Midrash, "Do not destroy My world, for if you do, there will be nobody after you to make it right again." (Midrash Ecclesiastes Rabbah 7:13). It is our responsibility to preserve, protect, and nourish our planet. We have the power to take action to create a healthy and just future for ourselves and generations to come. -- Union for Reform Judaism.
Pope Francis in the encyclical letter, Laudato si', stated "Climate change is a global problem with grave implications... It represents one of the principal challenges facing humanity in our day.... There is an urgent need to develop policies so that, in the next few years, the emissions of carbon dioxide and other highly polluting gases can be drastically reduced, for example, substituting for fossil fuels and developing sources of renewable energy" -- Laudato si': On Care for Our Common Home.
The New York State Teachers Retirement System maintains an estimated $4.5 billion in investments in the fossil fuel industry at a time when it has become abundantly clear that this industry is causing climate change and has known for decades that its activities were warming our planet. We therefore urge you to divest the Retirement System from climate destroying fossil fuels as soon as possible. We support the Teachers Fossil Fuel Divestment Act, which would require this as a matter of law.
Divestment is an act of leadership. When NYSTRS divests it will raise public consciousness about the severity of climate change and inspire other institutions to divest. It will also be a message to the rest of the country and the rest of the world that institutions can make a difference by taking a moral stand. Over 1,000 portfolios valued at over $8 trillion have already committed to fossil fuel divestment. NYSTRS must deny funds to the industries that are creating this crisis and join with the institutions that are demanding a sustainable future.
Not only is divestment a moral imperative, but it is also a financial one. The fossil fuel industry is poised to suffer devastating financial losses. Virtually every country in the world has committed to replacing fossil fuels with renewable energy sources. The resulting laws and policies will inevitably cause a decline in the value of fossil fuels investments and risk the financial stability of the retirement fund that so many New York teachers depend on.
The need for action is urgent. We are the first generation to feel the impact of climate change and the last generation able to do something about it. In the name of all that we hold dear in our various and mutually respectful religious practices, we the undersigned call upon you to take leadership to avert climate catastrophe and divest the teachers' retirement fund from fossil fuels.
Yours faithfully,
cc. NYSUT leadership and the New York State Legislature
