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Divestment Plan A Terrible Idea

To The Reader’s Forum:

I’m writing in about the divestment plan that has been proposed by a New York City Senator. It’s a terrible idea and has no chance of working.

Senator Krueger, is the author, and her idea is to sell off all New York State pension funds from any company that produces fossil fuels. The hope is this would discourage fossil fuel production. But it won’t work that way. By selling off your investment, you’re selling off your leverage and thus influence over a company’s decisions. No one is going to change its model because you pull your investment. You can’t influence a company if you are not at the table. If we were really serious about changing companies’ behaviors, we’d engage with them and encourage them to change. We wouldn’t just walk away.

Senator Krueger, score your political points elsewhere.

Hank Hoisington

Forestville

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