New York City pension system joins net zero asset group (2024)
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What’s the story?
The New York City Employees’ Retirement System (NYCERS)—under the direction of city Comptroller Brad Lander (D)—joined the Net-Zero Asset Owner Alliance (NZAOA), extending its commitment to ESG investment strategies. NZAOA’s members manage more than $9.5 trillion and commit to using their investments to reduce carbon emissions.
Why does it matter?
The NYCERS move is a public divergence from recent private asset manager trends. While the city’s pension system is expanding its ESG investing commitments, large companies—including Blackrock, JP Morgan Chase, and State Street—have withdrawn from or scaled back their relationships with global climate investment alliances this year.
Lander has also promoted his ESG record in his 2025 NYC mayoral campaign, meaning the move could become a topic in the race.
Read more:
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By joining NZAOA, NYCERS aligns with a coalition dedicated to transitioning investment portfolios to net-zero greenhouse gas emissions. Alliance members have set ambitious targets, reducing absolute financed emissions by at least 6% annually on average, as reported in NZAOA’s fourth Progress Report. Among U.S.-based members, NYCERS joins organizations like CalPERS, Wespath, the David Rockefeller Fund, Jessie Smith Noyes Foundation, and The Russell Family Foundation.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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