Berkshire, AIG Urged by NYC’s Comptroller to Divest From Coal

Warren Buffett’s Berkshire Hathaway Inc.American International Group Inc. and Liberty Mutual are under pressure from a New York City official over their ties to the coal industry.

 

Comptroller Scott Stringer, on behalf of three New York City pension funds, sent letters to executives at the three insurers, urging them to stop underwriting coal projects and divest from the industry, he said in a statement Friday.

 

“Divesting from the coal industry is the right thing to do for our planet, our future and our children — and it’s the smart thing to do for investors,” Stringer said in the statement. “Continuing to invest in coal projects will only create greater financial risk, potential liability and future cost burdens.”

 

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