September 6, 2016
By Stephanie West
New York, NY – New York State Comptroller Thomas P. DiNapoli has announced agreements with several companies relating to lowering greenhouse gas (GHG) emissions and helping safeguard the New York Common Retirement Fund’s (Fund) long-term investments.
The agreements are part of DiNapoli’s broader strategy to protect and grow the Fund’s long-term value through sustainable investments and by seeking greater corporate efforts to meet the challenges of climate change.
“Climate risk is one of the greatest threats to our investments across the board,” DiNapoli said. “We’ll continue to use our strength as a major investor and call on our publicly held companies to plan ahead and address climate change now. The companies that have agreed to take steps to lower their emissions are to be commended. Their actions will benefit their long-term profitability.”
Two major energy providers, Allete and NorthWestern, agreed to DiNapoli’s request to examine ways to reduce GHG emissions by increasing deployment of low-carbon electricity generation resources.