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For Release — August 8, 2018

Business Council statement on financial impacts of energy divestment
Study finds energy divestment would severely hinder public pension growth and have a profoundly negative impact on retirees’ fiscal health

ALBANY, N.Y.—”The Compass Lexecon study affirms that if some New York politicians are successful in their politically-motivated push for fossil fuel divestment, they will be doing so on the back of our state’s vulnerable retirees,” said Heather C. Briccetti, Esq., president and CEO of The Business Council of New York State, Inc. “ According to the authors, divestment would cost between $136 and $198 million per year. We thank Compass Lexecon for this study and urge politicians to ignore the heated rhetoric from divestment proponents and look at the facts.”

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