NYC Pension Funds Begin to Craft a Fossil-Fuel Divestment Path

NYC Pension Funds Begin to Craft a Fossil-Fuel Divestment Path by IEEFA

A certain recent RFP from the New York City comptroller on behalf of the city’s pension funds could be the beginning of something big.

It calls for a carbon footprint analysis of the funds’ holdings and advertises an opening for a climate-risk investment-strategy consultant. While the RFP is shrouded in pension-speak, its aim is clear: to introduce a series of asset-allocation decisions that will minimize fossil fuel risk and optimize portfolio returns.

Such...