NYC Funds Plan Additional Fossil-Fuel Investing Restrictions (1)

New York City Comptroller Brad Lander proposed ending fossil-fuel investments in private markets by the city’s pension funds as part of a pledge to cut greenhouse gas emissions.

The proposal involves barring future investments in energy infrastructure such as pipelines and liquefied natural gas terminals from private equity and infrastructure portfolios, according to a statement Tuesday from Lander’s office. The plan would impact three of the city’s five retirement plans.

Brad Lander in 2023.

Photographer: Yuki Iwamura/Bloomberg

“Excluding pipelines and LNG terminals from future investments will help mitigate the systemic risks that climate change poses to the global economy and to New York City’s public pension ...