NYC public pension funds will commit $50 billion in renewable energy by 2035, de Blasio says
The goal is net zero emissions by 2040.
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Mayor Bill de Blasio along with trustees of three of the city’s pension funds announced a commitment Thursday to achieve net zero greenhouse gas emissions in their investment portfolios by 2040.
The goal is to double investments in climate change solutions like renewable energy and green real estate to over $8 billion by 2025 and reach over $37 billion in climate solution investments by 2035 across the three funds. In total, the mayor hopes to achieve $50 billion in total pension fund investments in climate solutions by 2035.
Both the mayor and City Comptroller Scott M. Stringer created the proposal, which they said would ensure that New York leads the way by establishing a net-zero emissions goal within its public pension funds.
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“The last thing you want to do is invest in industries that are going to have to leave their assets in the ground — that’s the fossil fuel industry,” de Blasio said. “They are the past. The future is renewables and that’s where we are focused. We are running out of time, we have to do everything and anything.”
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https://www.amny.com/environment/nyc-commits-50-billion-public-pension-renewable-energy/
Mayor's web site:
https://www1.nyc.gov/office-of-the-mayor/news/702-21/mayor-de-blasio-comptroller-stringer-trustees-commitment-achieve-net-zero
This is another one of those stories where the r-w media is pushing this story with a different slant. The above story, if you check the link, does mention AOC, who was in attendance and made comments about how the funds will be reinvested. The story's overall point, however is about the change to stocks that aid in climate change.
The r-w thrust of the story is to emphasize AOC. Here are a few examples. Here is the headline at The NY Post:
De Blasio, Stringer turn $8B in NYC pension funds over to AOC-driven Green New Deal investments
However, the r-w sites, including NY Post,