New York State Comptroller Thomas P. DiNapoli has committed to shift the New York State Common Retirement Fund out of its fossil-fuel stocks so that by 2040 the system's portfolio will “net zero greenhouse-gas emissions.”
“This process will include completion within four years of a review of investments in energy-sector companies, using minimum standards to assess transition readiness and climate-related investment risk, with, where consistent with fiduciary duty, divestment of companies that fail to meet minimum standards,” he stated Dec. 9.
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