ALBANY, N.Y. (AP) — New York Gov. Andrew Cuomo says the state’s pension fund should pull its investments in fossil fuels.
The Democrat announced the idea Tuesday. It’s long been a goal of many environmental advocates, who say the state shouldn’t invest in fossil fuel companies when it’s working to reduce its carbon emissions.
Cuomo says he wants to work with state Comptroller Thomas DiNapoli to study the more than $200 billion fund and divest from any “significant” fossil fuel investments. The governor says the move would send a strong message to financial markets that New York is committed to renewable energy and sustainable economy.
Under his proposal the state would also look for ways to boosts investments in clean energy. The plan will be detailed in Cuomo’s state of the state address next month.
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