New York Pension Adds $2 Billion to Climate Index-Fund Stake

The New York State Common Retirement Fund is boosting its investment in an equity index focused on reducing the risks of climate change and accelerating the transition to cleaner energy.

The $273.4 billion pension fund, the third-largest in the US, is committing another $2 billion to the FTSE Russell TPI Climate Transition Index fund as part of a goal of having a net-zero greenhouse-gas emissions portfolio by 2040, comptroller Thomas DiNapoli said in a news release.

The move expands on the fund’s decision in 2021 to invest $2 billion in the fund, which examines metrics such as companies’ carbon emissions, ...