New York pension fund launches $2 billion low-carbon index

New York State’s pension fund launched a $2 billion low-carbon index which will exclude or reduce investment in high-emitting industries such as coal mining, the State Comptroller said on Friday.

Launching the scheme from the global climate summit in Paris Thomas P. DiNapoli said: “Low-carbon, sustainable investments are key to our future …and this expansion of our commitment offers a sensible solution that will protect the Fund’s (New York Common Retirement Fund) investments.”

The low-emissions index was created in partnership with Goldman Sachs Asset Management.