New York State Pension Fund Commits $2.4 Billion to Climate Investment Strategies
The New York State Common Retirement Fund, one of the largest public pension plans in the U.S., announced the allocation of $2.4 billion to its Sustainable Investments and Climate Solutions (SICS) Program through investments in three climate-focused investment funds.
State Comptroller Thomas P. DiNapoli also announced that the fund completed its annual review of thermal coal, oil sands, shale oil and gas, and integrated oil companies, resulting in new restrictions on investment in eight coal and shale oil and gas companies determined to be not prepared for the transition to a low-carbon economy, and the removal of 11 companies from the restricted list. The fund said that it will sell its investments in the newly restricted securities,…
