New York State Comptroller Thomas P. DiNapoli released the following statement today after the Asset Owners Disclosure Project named the New York State Common Retirement Fund as the number one U.S. pension fund, and the third globally, for its work to address climate risk. It was the Fund’s second consecutive ranking as the leading U.S. pension fund on addressing climate issues.
"Climate change is one of the greatest threats to the long-term value of global investors and the Paris Agreement is our best hope to combat it. Whatever President Trump says or does regarding the Paris Agreement, it will not weaken the resolve, both at home and abroad, to make the Agreement’s goals a reality. The fight to rein in rising global temperatures has opened the doors to innovation and opportunity. That’s why I’ve committed $7 billion to sustainable investment, including our $4 billion low emissions index that shifts stock holdings away from the biggest carbon emitters to cleaner companies. It’s also why I continue to speak out when the Fund’s portfolio companies fail to take the steps necessary to adapt to the changing world. Those of us who are working to make the Paris Agreement a reality may take separate avenues, but we share a common goal — to help build the growing low carbon economy. I am proud that the Fund is part of that worldwide effort and proud that our hard work to protect the retirement security of more than one million New Yorkers from climate risk has been recognized and appreciated."
AODP annually rates the world’s largest institutional investors based on their response to climate-related risks and opportunities. Its full report can be found at: https://aodproject.net/changing-climate/
About the New York State Common Retirement Fund
The New York State Common Retirement Fund is the third largest public pension fund in the United States, with an estimated $209.2 billion in assets under management as of June 30, 2018. The Fund holds and invests the assets of the New York State and Local Retirement System on behalf of more than one million state and local government employees and retirees and their beneficiaries. The Fund has a diversified portfolio of public and private equities, fixed income, real estate and alternative instruments.