New York State Pension Fund Lost $5.3 Billion From Fossil Fuel Holdings

The New York State Common Retirement Fund (NYS-CRF) lost at least $5.3 billion 1 from their investments in the top 200 coal, oil, and gas companies, according to a new report from Corporate Knights. New York State’s $189.4 billion pension fund is the third largest in the nation, just following California’s CalPERS and CalSTRS, which are now required by law to divest from thermal coal.
This groundbreaking report comes as politicians, environmentalists and financial experts gather in Albany for a forum on the Fossil Fuel Divestment Act co-sponsored by New York State Senator Liz Krueger  and Assembly Assistant Speaker Felix W. Ortiz. This is the first statewide climate legislation that calls for full divestment from coal, oil and gas. …