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New York state pension fund limits oil sands investments

New York state pension fund limits oil sands investments New York state pension fund limits oil sands investments Bloomberg Mining operations at Syncrude Canada Ltd. s oil sands North Mine in Fort McMurray in 2010. The New York State Common Retirement Fund, Albany, plans to restrict investments in seven oil sands companies and eventually divest its $7 million holdings in them, Thomas DiNapoli, the state comptroller and sole trustee of the $247.7 billion pension fund, announced Monday. The fund will not directly purchase or directly hold debt or equity securities, or invest through an actively managed account or vehicle, in these companies, a news release from the comptroller s office said. Existing investments will be sold in a prudent manner and time frame.

New York state pension fund says it s selling off a $7M stake in oilsands

New York state pension fund says it s selling off a $7M stake in oilsands
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