Report – NYC and NYS pension funds should divest coal stocks: A shrinking industry, weak upside, and wrong on climate change
NYC and NYS pension funds should divest coal stocks: A shrinking industry, weak upside, and wrong on climate change (pdf)
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Two New York City pension funds to divest fossil fuel holdings
Pensions and Investments: Two of the five pension funds in the New York City Retirement Systems will divest an estimated $4 billion in securities related to fossil fuel companies, city officials said Monday. Boards of the $77.4 billion New York City Employees’ Retirement System and the $91.4 billion New York City Teachers’ Retirement System voted […]
Tom Sanzillo
IEEFA: New York State Comptroller DiNapoli takes the lead on fossil fuel divestment
State pension fund valued at $226 billion aims for net zero carbon target by 2040
New York State Comptroller Thomas P. DiNapoli took a bold step this week by moving to end investments in the riskiest oil and gas stocks—those unable or unwilling to get out of fossil fuel production. For many years, fossil fuel investments provided strong returns, ensuring that the state pension fund was solvent and retirees were […]
Press Release and Sandy Buchanan
IEEFA: New York State pension fund sets net-zero carbon emissions target
Fund valued at $226 billion, move signals investor shift away from fossil fuels
December 9, 2020 (IEEFA U.S.) – In response to New York State’s announcement on Wednesday that its pension fund, one of the world’s largest, has set a net zero carbon emissions target for its investment portfolio by 2040, the Institute for Energy Economics and Financial Analysis (IEEFA) released the following statement. “IEEFA applauds New York […]
IEEFA
New York’s state pension fund to divest most fossil fuel stocks in coming five years
The New York Times: New York State’s pension fund, one of the world’s largest and most influential investors, will drop many of its fossil fuel stocks in the next five years and sell its shares in other companies that contribute to global warming by 2040, the state comptroller said on Wednesday. With $226 billion in […]
IEEFA
New York state pension fund considering divestment from 27 coal companies
Reuters: New York state’s top pension fund official said it was reviewing whether to divest from 27 coal companies and could make decisions on $98 million in holdings within two months. The reviews by the third-largest U.S. state pension system, with $211 billion under management, could set the tone for other retirement plans facing public […]
IEEFA
U.S. pension funds push big utilities to adopt carbon-free generation plans
Reuters: Top U.S. pension funds are asking electric utilities to accelerate efforts to cut carbon emissions but will not force the issue with proxy resolutions this spring, hoping market shifts and falling prices for renewable energy have already made executives and directors receptive to the goal. Investors including New York City Comptroller Scott Stringer, who […]
IEEFA
ExxonMobil seeks to block shareholder vote on climate risk
Reuters: ExxonMobil Corp is trying to block an investor proposal that calls on the world’s largest publicly traded oil company to set targets for lowering its greenhouse gas emissions, two of the investor groups involved said on Sunday. Exxon in late January wrote to the U.S. Securities and Exchange Commission that the proposal, which is […]
IEEFA
Divestiture Movement, Deepening Distress of Coal Industry, Emerging Battles Over Solar, Overbuilding of Shale Gas Pipelines Highlight IEEFA Energy Finance 2016 Conference in New York City
Panelists From Deutsche Bank, Moody’s, S&P Capital IQ, New York Mayor’s Office, CalSTRS, Massachusetts Attorney General’s Office, Bloomberg New Energy Finance, Norwegian Parliament
COLUMBIA UNIVERSITY, MARCH 14-16; EXPERTS FROM EUROPE, ASIA, AUSTRALIA, AND THE AMERICAS NEW YORK, Feb. 29, 2016 — The Institute for Energy Economics and Financial Analysis (IEEFA) today announced a 2016 conference lineup that includes leading energy finance experts, industry regulators, institutional investors, activists, market analysts and commentators from around the world. The conference, Energy […]
Tom Sanzillo
A Shakeout Begins for U.S. Shale-Oil Producers
When we published a report nine months ago urging New York State pension funds to divest from increasingly risky coal stocks, we wondered if there might be a similar case to be made broadly for investors in shale-oil companies. It turns out there is. Mark Lewis, a senior analyst at Kepler Cheuvreux, the investment-advisory firm […]
IEEFA: NYS Comptroller DiNapoli’s bold divestment plan may inspire investors to follow suit
Divestment option should be emulated by other major funds
New York State Comptroller Thomas P. DiNapoli, who heads one of the largest public pension funds in the U.S., concluded 2020 with a bold investment decision on fossil fuels. He will hold the entire industry to higher standards regarding climate change and establish broader scrutiny of a pension portfolio with holdings that span the entire economy in a […]