City of New Orleans divesting from fossil fuels

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NEW ORLEANS – New Orleans joins a group of cities that plan to stop investing city assets in fossil fuels.

Some other cities taking part are New York, Los Angeles, and London. Leaders from all 10 cities say they plan to move the investments, like pension funds and other public money, into climate change solutions.

The Grow Louisiana Coalition is criticizing the announcement. In a statement released yesterday, the group calls the decision a blanket political maneuver.

It also says the city is failing to consider the effect of the decision on Louisiana residents.

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