State Comptroller Thomas DiNapoli says his plan to shift $20 billion of New York’s retirement fund away from carbon polluters will begin with divesting from the coal industry.
“Equally important is ramping up our investments. We doubled our commitment to our sustainable investment program. So we are seeking out opportunities to be a part of the opportunities that are being presented with the emerging greener, low-carbon economy that we see, certainly see, the world community moving toward. And we want to be a part of that, in a way that is advantageous for the pension fund.”
A New York State advisory group had recommended DiNapoli divest the pension fund from companies that fail to meet the state’s minimum environmental standards.
