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Jan 13, 2018 @ 19:48

NY City files lawsuit vs world’s Top 5 oil companies for global warming

 

New York City announced Wednesday that it had filed a lawsuit against the five largest oil companies for contributing to global warming.

“The City will be seeking damages from BP, Chevron, ConocoPhillips, Exxon Mobil, and Royal Dutch Shell for the billions of dollars the City will spend to protect New Yorkers from the effects of climate change,” said a statement from the mayor’s office released on Wednesday.

The city alleges the fossil fuel industry was aware for decades that burning fuel was impacting climate change.

“We’re bringing the fight against climate change straight to the fossil fuel companies that knew about its effects and intentionally misled the public to protect their profits,” New York City Mayor Bill de Blasio said in the statement.

“As climate change continues to worsen, it’s up to the fossil fuel companies whose greed put us in this position to shoulder the cost of making New York safer and more resilient,” he added.

Meanwhile, de Blasio and Comptroller Scott Stringer also announced that they would divest the city’s five pension funds of roughly USD5 billion in fossil fuel investments out of its total of USD189 billion, which would make New York City the first major US pension plan to do so. (Xinhua)

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