iPolitics By iPolitics. Published on Apr 13, 2021 12:36pm
The Lead
The New York State Common Retirement Fund, which is the third-largest public pension plan in the U.S., announced on Monday it will sell over US$7 million in securities connected to Canada’s oilpatch companies, according to the National Observer. The reason for the divestment stems from the fund’s perspective that the companies are not ready for the green transition.
“As nations around the world become increasingly serious about addressing the threat of climate change and as market forces drive a low-carbon economic transition, we need to make sure our investments line up with this reality,” Thomas DiNapoli, the fund’s trustee, said in a statement.
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