New York Governor Seeks Fossil-Fuel Divestment, But Comptroller Has Other Plans

December 27, 2017

The Wall Street Journal

Thomas MacMillan


Gov. Andrew Cuomo said he will push for the state pension fund to divest from fossil-fuel companies, but the official who controls the fund says the best way to address climate change is by leveraging shareholder power.

The governor is creating a plan for divesting the New York State Common Retirement Fund from fossil-fuel investments as part of his 2018 agenda, he said. Mr. Cuomo said he plans to detail this and other initiatives in his Jan. 3 State of the State speech.

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Fossil Fuel Divestment and New York's Public Pension System · Research and Analysis

POLITICS OVER PERFORMANCE: The Politicization of the New York City Retirement Systems

American Council for Capital Formation

Tim Doyle Vice President of Policy & General Counsel


U.S. public pension systems were born in New York City, starting with an 1857 plan to pay police officers injured on the job. Over the next few decades, New York City pension eligibility spread to include firefighters and teachers, and eventually evolved into the current practice of providing beneficiaries...

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