New York is home to over 35,000 farms, covering approximately 7.3 million acres or nearly a quarter of the State’s total land area.

The integral role of farming in New York State’s history, economy and quality of life is effectively enshrined in Article XIV of the State Constitution.

This report articulates the evolution of the New York State Common Retirement Fund’s (Fund) approach to sustainable investment practices.

The New York State Common Retirement 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.

As Trustee of the New York State Common Retirement Fund, I have a responsibility to safeguard the Fund’s investments, which I manage for the benefit of the more than one million participants in the New York State and Local Retirement System.

A report to the Comptroller of the State of New York as the sole trustee of the New York State Common Retirement Fund (the Fund) on how the Fund can best mitigate investment risks stemming from climate change and maximize opportunities from the new, low-carbon economy.

Statement of Anastasia Titarchuk, Interim Chief Investment Officer, New York State Common Retirement Fund.

As Comptroller of New York State and Trustee of the Common Retirement Fund (CRF), I am deeply concerned about the impact of climate change on the Fund’s investments, as well as its impact on the economy as whole.

Guarding against the investment risks presented by climate change while preparing for the transition to a low-carbon economy is central to Comptroller DiNapoli’s work as trustee of the New York State Common Retirement Fund, one of the largest public pension funds in the country.

The New York State Common Retirement Fund (Fund) is one of the largest public pension funds in the nation, with assets held in trust for the benefit of the more than one million members and pensioners of the New York State and Local Retirement System (System). The System is widely regarded as one of the nation’s best-managed and best funded public pension plans.