LOADING

Type to search

New York Pension Fund Invests $2 Billion in FTSE Climate Transition Index

New York Pension Fund Invests $2 Billion in FTSE Climate Transition Index

New York Pension Fund Invests $2 Billion in FTSE Climate Transition Index

  • $2B Added to Climate Index Fund: The New York State Common Retirement Fund increases its investment in the FTSE Russell TPI Climate Transition Index, totaling $4B in the fund.
  • $26.5B in Green Assets to Date: The pension fund continues building toward its $40B climate investment target, aiming for a net-zero portfolio by 2040.
  • New Private Equity Commitments: An additional $400M is allocated to sustainable infrastructure and energy transition via Oaktree and Vision Ridge funds.

The New York State Common Retirement Fund is scaling up its climate investment strategy, adding $2 billion to the FTSE Russell TPI Climate Transition Index fund. This marks the second major commitment to the index since 2021 and aligns with the pension’s push toward net-zero emissions by 2040.

We are continuing to take tangible steps to build a more sustainable portfolio for our members,” said New York State Comptroller Thomas DiNapoli.

New York State Comptroller Thomas DiNapoli

The $273.4 billion fund has now allocated $26.5 billion to climate-related index funds, green bonds, and renewable energy assets. Its long-term climate strategy targets $40 billion in green investments.

The FTSE Russell TPI fund, which screens companies based on carbon intensity, fossil fuel exposure, and green revenue, returned nearly 28% in the fiscal year ending March 2024. That performance slightly lagged behind the 30% return from the Russell 1000 Index, according to the fund’s latest annual report.

RELATED ARTICLE: New York Pension Seek Stricter Climate Emissions Rules from Bank Portfolios

In parallel, the fund committed an additional $250 million to Oaktree Capital Management’s Power Opportunities Fund VII and $150 million to Vision Ridge Partners’ Sustainable Asset Fund IV, both focused on sustainable infrastructure and energy transition projects.

These investments come amid political uncertainty. A potential second Trump administration is reviewing clean energy and offshore wind awards granted under President Biden, signaling a possible policy shift back toward fossil fuels.

Despite political headwinds, we remain focused on the long-term value and resilience that sustainable investments bring to our portfolio,DiNapoli added.

Follow ESG News on LinkedIn

Topics

Related Articles

LOADING

Type to search

Blog

Engie, Masdar Secure 1.5 GW Solar Project to Boost Abu Dhabi’s Clean Energy Capacity
Amazon Tests Next-Gen Decarbonization Strategies at New Indiana Facility
Brookfield and Bloom Energy Launch $5B Partnership to Power Next-Generation AI Factories
McKinsey’s Global Energy Perspective 2025 Warns of Slower Transition Despite Renewables Growth
Swedish Green Steel Firm Stegra Launches $1B Round to Finish Hydrogen Steel Plant
Global Taskforce Sets Out Plan to Bridge $4 Trillion Sustainability Finance Gap for SMEs
EU Lawmakers Scale Back Sustainability Rules, Raising Thresholds for Corporate Reporting and Due Diligence
Schroders Achieves 100% Renewable Electricity Across Global Operations One Year Ahead of Schedule
Mercedes F1 Nears Net Zero Goal with 99% Biofuel Logistics Coverage Across Europe
Moeve Joins Avelia as First External SAF Supplier
Google to Invest €5 Billion in Belgium to Expand AI and Carbon-Free Infrastructure by 2027
Climate Fund Managers Closes $1.07 Billion Climate Adaptation Fund for Emerging Markets
Mexico Adopts 17 Climate-Aligned Legal Clauses to Advance Sustainable Law Frameworks
EU Launches $6.1M Initiative to Scale Sustainable Algae Farming and Blue Innovation Hubs
India Plans $77B Hydropower Expansion as Strategic Buffer to China’s Upstream Dams
US Pushes Back Against EU Plan to Cut Global Shipping Emissions
Siemens, Airbus Partner to Decarbonize Three UK Manufacturing Sites by 2030
INC Introduces First Global Sustainability Certification for Nut and Dried Fruit Industry
US Delays Wyoming Coal Lease Auction Following Weak Industry Interest in Montana
ESG News Week In Review: 3 October - 12 October
","session_id":"ep-sess-1761836026-uNckWZhH","page_url":"https:\/\/esgnews.com\/new-york-pension-fund-invests-2-billion-in-ftse-climate-transition-index\/","post_id":"35452","tracking_enabled":"1","original_referrer":"","has_embedded_content":""}; /* ]]> */