NYC Pension Fund Decides to Join Climate-Finance Group (1)

One of New York City’s pension funds is joining a climate-finance group as it double downs on efforts to address investment risks from global warming.

The New York City Employees’ Retirement System will become part of the Net-Zero Asset Owner Alliance, according to a statement from the city’s Comptroller Brad Lander on Thursday.

NYCERS, which manages about $89 billion of assets, last month proposed ending fossil-fuel investments in private markets, including projects such as pipelines and liquefied natural gas terminals. The pension fund pledged in 2021 to cut emissions by 2040.

Lander and NYC pension plans also have pressed ...