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NYC pension funds divest $3bn of fossil fuel assets

NY State Pension Fund to divest from 'risky' oil and gas companies

The $226 billion New York State Common Retirement Fund is moving to divest from the 'riskiest' oil and gas companies by 2025 and has committed to full decarbonisation by 2040.

Investors urge Federal Reserve to tackle climate risk

Investors with nearly $1 trillion in assets under management have signed a letter to US Federal Reserve chairman Jerome Powell demanding action to address climate change as a systemic financial risk.

NYC pension fund calls on insurers to divest from coal

The New York City Comptroller, who oversees the city's $218 billion pension fund, has called on three major US insurers to stop insuring and divest from coal.

$1.8trn investor group urges US utilities to set net-zero carbon deadline

Investors representing a combined $1.8 trillion in assets have demanded that the 20 largest publicly traded electricity utilities in the US commit to achieving net-zero carbon emissions.

New York City files to sue five oil majors, plans $5bn pension fossil fuel divestment

New York City has filed a lawsuit against five oil majors for damages caused by climate change, and the city's pension funds intend to divest $5 billion from fossil fuel companies, as its mayor launched a blistering attack on the firms.

CalPERS warns Elliott about short-termism on NRG

US pensions giant CalPERS has warned NRG Energy against short-termism as the independent power producer works with activist shareholder Elliott Advisors to implement its new transformation strategy.

Major investors call on banks to re-route Dakota pipeline

A group of major investors has called on banks involved in the Dakota Access Pipeline (DAPL) to re-route it so that it does not cross Native American treaty land.

It's time for New York to issue green bonds, says city comptroller

The time is ripe for New York City to divert some of its $10-$15 billion of annual debt issues into green bonds, said comptroller Scott Stringer.

New York City set to be 'first US city' to launch green bond programme

New York City expects launch a green bond programme, following in the footsteps of Ontario and Gothenburg.