New York State Pension Fund Commits $2.4 Billion to Climate Investment Strategies

The New York State Common Retirement Fund (NYSCRF) has committed $2.4 billion to its Sustainable Investments and Climate Solutions (SICS) Program, aimed at addressing climate change risks and capitalizing on the opportunities created by the transition to a low-carbon economy.

As one of the largest public pension funds in the U.S., NYSCRF is doubling down on sustainable investments by allocating $2 billion to the FTSE Russell TPI 1000 Climate Transition Index, which focuses on companies actively reducing carbon emissions and adapting to the low-carbon transition. Additionally, $250 million will go into the Oaktree Power Opportunities Fund VII, which invests in clean energy infrastructure, and $150 million will be allocated to the Vision Ridge Partners Sustainable Asset Fund IV, which targets climate mitigation projects across North America.

In line with this strategic shift, the fund has also divested from companies in thermal coal, oil sands, shale oil, and gas sectors, totaling over $31 million in investments. These moves reflect the fund’s commitment to addressing climate risks and promoting a sustainable financial future.

As State Comptroller Thomas P. DiNapoli stated, “Climate change poses a real threat to our investments, but the actions announced today will help position the Fund to address those risks and seize on opportunities generated as the world transitions to a low-carbon economy.”

The latest funding moves are part of NYSCRF’s broader goal to commit $40 billion to sustainable investments by 2035.

DiNapoli added, “These latest investments continue our commitment to prudently reduce risks to our portfolio and protect the Fund.”

Keep abreast of the top ESG Events on OneStop ESG Events.

OneStop ESG Educate: Your go-to source for top ESG courses and training programs tailored to your needs.

OneStop ESG Marketplace: Discover innovative solutions driving climate-smart farming and emissions monitoring.