ALBANY, N.Y. (AP) - New York Gov. Andrew Cuomo says the state's pension fund should pull its investments in fossil fuels.
The Democrat announced the idea Tuesday. It's long been a goal of many environmental advocates, who say the state shouldn't invest in fossil fuel companies when it's working to reduce its carbon emissions.
Cuomo says he wants to work with state Comptroller Thomas DiNapoli to study the more than $200 billion fund and divest from any "significant" fossil fuel investments. The governor says the move would send a strong message to financial markets that New York is committed to renewable energy and sustainable economy.
Under his proposal the state would also look for ways to boosts investments in clean energy. The plan will be detailed in Cuomo's state of the state address next month.
(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
- Cuomo: NY pension fund should end fossil fuel investments
- Mattel to report political spending to NY state pension fund
- NY ends investments in private prisons, detention companies
- Cuomo, Senate leader trade barbs as NY session end nears
- NY Gov. Cuomo announces anti-discrimination initiatives
- Cuomo defeats Nixon in NY gubernatorial primary
- Report: NY must invest more to expand Pre-K education
- NY to invest $40M in solar energy storage technology
- NY invests $275,000 in anti-poverty initiatives in Oneonta
- NY to invest $204M on 95 health care projects