New York City Retirement Systems reported $10.5 billion in climate solutions investments for the fiscal year ended June 30, according to data provided city comptroller Brad Lander.
Ninety-five percent of the investments are funded; the rest are commitments.
These investments account for 4.1% of the total assets of the $241.7 billion city pension system, and they represent a near doubling of the $5.6 billion in climate solutions for the fiscal year ended June 30, 2022.
"We're thrilled to be growing our climate solutions investments at the scale necessary to safeguard the long-term future of the systems' portfolio and our planet," Lander said in a Dec. 19 news release. Lander is custodian and a trustee of the five independent pension funds in the city pension system.
The climate solutions portfolio "includes investments in companies that derive revenue from climate mitigation, adaptation and resilience activities, such as renewable energy, energy efficiency, pollution prevention and low-carbon buildings," the news release said.
The pension funds' aggregate goal for climate solutions investments is $50 billion by 2035, the release said.
