The New York Court of Appeals denied a motion for leave to appeal by the parties who argued that the New York City public retirement systems violated their fiduciary duties by divesting from fossil fuel-based investments. In March 2025, the Appellate Division affirmed the dismissal of the case on standing grounds.

Lawsuit challenging New York City public employee retirement systems' divestment from companies involved in fossil fuel extraction.

Wong v. New York City Employees’ Retirement System

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New York High Court Declined to Hear Plaintiffs’ Appeal in Challenge to New York City Public Employee Retirement Systems’ Fossil Fuel Divestment

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New York High Court Declined to Hear Plaintiffs’ Appeal in Challenge to New York City Public Employee Retirement Systems’ Fossil Fuel Divestment

Policy instrument

Risk

Economic sector

Finance