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New York Pension Drops Tar Sand Companies on Climate Concerns

April 12, 2021, 4:11 PM

The New York State Common Retirement Fund says it will divest from seven tar sand companies after completing a review of its holdings, New York State Comptroller Tom DiNapoli announced Monday.

  • The $246 billion pension fund is the first in the U.S. to divest from tar sands
  • Companies divested include: Imperial Oil, Canadian Natural Resources, Husky Energy, MEG Energy Corp., Athabasca Oil Corp., Cenovus Energy, and Japan Petroleum Exploration
  • DiNapoli’s review of the fund’s fossil fuel portfolio found the companies posed “too great a risk to the fund due to lack of transition...

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