{"id":31103,"date":"2023-12-20T14:06:59","date_gmt":"2023-12-20T14:06:59","guid":{"rendered":"https:\/\/www.vosa.tv\/eng\/?p=31103"},"modified":"2023-12-20T14:06:59","modified_gmt":"2023-12-20T14:06:59","slug":"nyc-comptroller-pension-trustees-announce-24-7-percent-increase-in-climate-solutions-investment-and-commitment","status":"publish","type":"post","link":"https:\/\/www.vosa.tv\/eng\/archives\/31103","title":{"rendered":"NYC comptroller, Pension Trustees announce 24.7 percent increase in climate solutions, investment and commitment"},"content":{"rendered":"<p><strong>New York: New York City Comptroller Brad Lander and trustees of the New York City retirement systems announced a 24.7 percent increase in climate solutions investments and commitments in the most recent fiscal year.<\/strong><\/p>\n<p>The collective portfolio now stands at $10.5 billion as of the end of June 2023. This announcement comes as global leaders closed the annual United Nations Climate Change Conference (COP28) with a commitment to \u201claying the ground for a swift, just, and equitable transition, underpinned by deep emissions cuts and scaled-up finance.\u201d<\/p>\n<blockquote><p>\u201cPreserving a livable planet and a thriving economy will require a collective global commitment both to the phaseout of fossil fuels and to massive new investments in renewable energy and innovative climate solutions. We\u2019re thrilled to be growing our climate solutions investments at the scale necessary to safeguard the long-term future of the Systems\u2019 portfolios and our planet,\u201d said\u00a0<strong>New York City Comptroller Brad Lander.<\/strong><\/p><\/blockquote>\n<p>The robust increase in climate solutions investments bolsters \u00a0the recent decision by the three Systems (New York City Employees\u2019 Retirement System, Teachers\u2019 Retirement System and Board of Education Retirement System) to implement one of the most ambitious strategies of any public pension fund in the country to achieve net zero greenhouse gas emissions by 2040.<\/p>\n<p>Investments in climate solutions are one of the key pillars of the net zero strategy, alongside commitments to divest from fossil fuels, disclose annual emissions, and actively engage portfolio companies and asset managers to set and achieve science-based targets to reach net zero. The NYC funds\u00a0lead in pushing push banks, asset managers, utilities, and auto companies to accelerate their climate transitions.<\/p>\n<p>The climate solutions in the New York City Retirement Systems\u2019 portfolio includes investments in companies that derive revenue from climate mitigation, adaptation, and resilience activities, such as renewable energy, energy efficiency, pollution prevention, and low-carbon buildings. Climate solutions investments in the Systems\u2019 portfolios grew consistently and steeply in the last several years, more than five-fold since 2018. The five NYC pension funds aim to reach a goal of $50 billion in climate solutions investments by 2035.<\/p>\n<p><strong>Companies that have received investments include:<\/strong><\/p>\n<ul>\n<li><strong>Intersect Power,\u00a0<\/strong>a clean energy company bringing innovative and scalable low-carbon solutions to its customers in retail and wholesale energy markets.<\/li>\n<li><strong>Form Energy,<\/strong>\u00a0which is developing, manufacturing, and commercializing a new class of cost-effective, multi-day energy storage systems that will enable a reliable and fully renewable electric grid year-round.<\/li>\n<li><strong>Nextracker,\u00a0<\/strong>which provides intelligent solar tracker solutions for utility-scale and distributed generation projects to transform PV plant performance.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>New York: New York City Comptroller Brad Lander and trustees of the New York City retirement systems announced a 24.7 percent increase in climate solutions investments and commitments in the most recent fiscal year. The collective portfolio now stands at $10.5 billion as of the end of June 2023. This announcement comes as global leaders [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":30558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1469,31,1378],"tags":[],"class_list":["post-31103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-new-york","category-news","category-us"],"_links":{"self":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/31103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/comments?post=31103"}],"version-history":[{"count":2,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/31103\/revisions"}],"predecessor-version":[{"id":31105,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/posts\/31103\/revisions\/31105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/media\/30558"}],"wp:attachment":[{"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/media?parent=31103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/categories?post=31103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vosa.tv\/eng\/wp-json\/wp\/v2\/tags?post=31103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}