New York’s pension plan to define energy giants’ climate risk management plans


By Al Barbarino (August 12, 2022, 7:19 p.m. EDT) — The New York State Employees’ Pension Fund said Friday it was evaluating more than two dozen publicly traded oil and gas companies to assess how extent they are prepared to face the risks that come with the transition to a “net zero” economy, warning that the fund may restrict investments in those that are not.

The New York State Joint Retirement Fund has asked 28 companies – including US-based Chevron and ExxonMobil and Britain’s BP and Shell – to provide information on their readiness for the transition, the comptroller said of New York State Thomas P. DiNapoli, fund administrator, in an announcement.

“These companies need to be ready…

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