December 10, 2018 Comments Off on State Pension Fund Adds $3B to Sustainable Investments Views: 2246 New York News, Top New York

State Pension Fund Adds $3B to Sustainable Investments

New York State Comptroller Thomas DiNapoli said the New York State Common Retirement Fund would add $3 billion to its Sustainable Investment Program, raising its total commitment to $10 billion.

Of that total, $4 billion is earmarked for investment in companies with low greenhouse gas emissions, with the remaining $6 billion for sustainable investments across asset classes, including LEED Gold real estate.

“Climate change poses a significant threat to our investments,” said DiNapoli, who oversees the nation’s third largest public pension fund. “Smart, sustainable investments protect the long-term value of the fund and at the same time can be a powerful tool for helping to address the risk of climate change.”

Investments to date have included Generation Asset Management, the Rockefeller Asset Management Global Sustainability and Impact Strategy and the Rise Impact Fund. The fund seeks large-scale sustainable investment opportunities around the globe that meet its risk and return requirements.

Read more at Office of State Comptroller

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