De Blasio, Stringer announce goal to invest $4 billion in climate change solutions by 2020
BP Adams supports plan
Mayor Bill de Blasio, Comptroller Scott Stringer and other trustees of New York City’s pension funds recently announced a new goal to double the investments of the NYC Funds in climate change solutions to $4 billion, or 2 percent of the city’s $195 billion pension portfolio, over the next three years.
In order to accomplish this, city pension systems will aim to double the existing $2 billion investment across all asset classes to reach $4 billion of investment in renewable energy, energy efficiency and other climate solutions. This new target builds upon the funds earlier ongoing goal to divest city pension funds from fossil fuel reserve owners within five years.
“New York City leads from the front when it comes to the fight against climate change,” said de Blasio. “We’re taking a stand for generations to come with our goal to double our pension investments in job-creating climate solutions.”