NYC Comptroller Urges OxyChem to Stop Importing Asbestos

Chief Investment Officer by Michael Katz

New York, NY – New York City Comptroller Brad Lander has called on Occidental Petroleum Corp.-owned chemicals company Occidental Chemical Corporation, commonly known as OxyChem, to commit to stop importing asbestos and to speed up its transition to a non-asbestos technology. As comptroller, Lander is a trustee of the New York City Fire Pension Fund and the New York City Police Pension Fund, which collectively own $61 million worth of Occidental Petroleum securities, as of September 1. In a letter to Occidental Petroleum Board Chair Jack Moore, Lander noted that the chlor-alkali production method that uses asbestos has largely been replaced worldwide by a method that does not use asbestos. For full text, click here