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NYC and NYS pension funds
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Tom Sanzillo
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 […]
Tom Sanzillo
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
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
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
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
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
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
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
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
“(Reuters) – Few if any of the big U.S. pension or college endowment funds appear ready to follow in Stanford University’s footsteps and pull their money out of shares of coal miners or other fossil fuel producers. Officials from the pension systems for California’s public employees and schoolteachers and New York public employees, the three […]
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 […]