New York City Mayor Bill de Blasio and comptroller Scott Stringer, along with trustees of three of the city’s pension funds, are making strides in an unprecedented plan to divest New York City’s largest pension funds from fossil fuel companies.
Advisers have been selected to evaluate options and recommend divestment actions, which will inform the development of a comprehensive and prudent divestment strategy, according to the office of the mayor’s website.
The comptroller’s office has also launched a new notice of search (NOS) for city pension funds’ investment in climate solutions. The pension funds will select public markets investment managers to help double the city’s investments in climate solutions and investment in companies that generate revenue from climate mitigation, adaption and resiliency. These include as renewable energy, energy efficiency, green buildings and electric vehicle energy storage.
The City of New York is enlisting Meketa In