NZI Transition and Climate Investment Conference | 22 October | London | Register here<\/a><\/p>\nThe move, which would involve New York City Teachers\u2019 Retirement System (TRS), Employees\u2019 Retirement System (NYCERS) and Board of Education Retirement System (BERS), could see the three funds expand their investments in a broad array of climate solutions. This could range from areas including renewable power generation, grid modernization, energy efficiency and storage, clean transportation, and building decarbonization, as well as technologies that can reduce pollution, strengthen energy and water security, and improve resilience to extreme weather, comptroller Levine said.<\/p>\n
The move is driven by a desire to play into clean energy as a global investment trend whilst contributing to a more resilient energy sector and lower prices for consumers, he explained. \u201cAs the climate crisis places a growing strain on our infrastructure and the broader economy, investing in cleaner, more reliable and resilient energy that can lower costs and reduce emissions at the same time is an essential part of our prudent long-term investment strategy.\u201d<\/p>\n
He also accused the Trump administration of \u201ca lack of leadership\u201d on climate, highlighting that 223 \u2060manufacturing and clean \u2060energy projects, representing $82.9 billion in investment and 111,765 jobs had stalled or been cancelled across the US during the current federal administration.<\/p>\n
Levine\u2019s recommendation means that a range of investment opportunities in the sector will be presented to each pension board for consideration and approval, subject to each of the three Systems\u2019 independent due-diligence and fiduciary review processes.<\/p>\n
The new allocations would sit within the Systems\u2019 existing net zero plan, which includes a goal to invest $37.8bn in the transition by 2035.<\/p>\n
Earlier this year, NYCERS, TRS, and BERS committed $116m to the Sandbrook Climate Infrastructure Fund II, marking the first private markets climate-focused investment during Comptroller Levine\u2019s term.<\/p>\n","protected":false},"excerpt":{"rendered":"Mark Levine, the new New York City Comptroller, used his first New York Climate Week in the new…\n","protected":false},"author":2,"featured_media":355588,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[37742,9,56,63,65,64],"class_list":["post-355587","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york-city","tag-net-zero-investor","tag-new-york","tag-ny","tag-nyc","tag-nyc-headlines","tag-nyc-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/355587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=355587"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/355587\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/355588"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=355587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=355587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=355587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}