sustaiNYC

From the NYC Sierra Club Meetup:

Financing Climate Disaster:
How NYC’s financial institutions are making the next round of bad loans, underwriting global warming, and gambling against President-elect Obama by financing new coal plants

Thursday, 22 January 2009, 6:30 pm
15th Street Friends Meeting House, 15 Rutherford Place, Manhattan
(between 15th & 16th Streets, 2nd & 3rd Avenues)
suggested donation $10

After receiving hundreds of billions of dollars in public money, leading NYC financial institutions Citigroup, JPMorgan Chase and others are putting up billions of dollars for new coal plants, while the rating companies Standard & Poor’s, Moody’s, and Fitch Ratings are giving positive credit ratings to the companies building them. Because the coal-burning plants that provide half our electricity are the single largest source of global warming pollution in the United States, a complete overhaul of our energy system is necessary.

Former First Deputy Comptroller for the State of New York Tom Sanzillo will address the financial risks of new coal plants, the enormous economic opportunities of energy efficiency and clean energy, and how the banks and credit-rating agencies are making a dangerous gamble with our money.

From 1990 to 2007, Tom Sanzillo served in senior management positions to the publicly elected Chief Financial Officers of New York City and New York State. As First Deputy Comptroller for the State of New York from 2003-07, Tom was responsible for:

• a $150 billion globally invested public pension fund
• oversight of state and local budgets and debt offerings
• audit programs for all state agencies, public authorities and local governments
• review and approval of state contracts.

He also spearheaded important reform efforts regarding the management and operation of public authorities and the use of public debt for mass transit financing, public power governance, contracting, budgeting, rate setting, and hospital financing.

In his 30 years as a government official or not-for-profit director, Tom has published on housing, environment, energy, transportation, public health, health financing, poverty, race relations, public assistance, economic development, job training, public debt, pension fund financing, education, public sector management, public budgets, government contracting, public debt, local government finances and the electoral process.

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
Sponsored by:
Sierra Club NYC Group http://www.nyc.sierra…
Neighborhood Energy Network http://neighborhooden…
Tristate Food Not Lawns http://www.tristatefo…
Oil Awareness Meetup http://oilawareness.m…

Tags: Climate Change, Events, finance