New York City Employees Retirement System

Union, City Set Pension Investment Goals

October 15, 2018 // 0 Comments

By DIANE S. WILLIAMS At a press conference on Sept. 13, Mayor Bill de Blasio and City Comptroller Scott Stringer announced the New York City pension fund goal to invest $4 billion in clean energy and other climate change solutions by 2021. “New York City leads from the front when it comes to the fight against climate change,” said de Blasio. “We’re taking a stand for generations to come with our goal to double our pension investments in job-creating climate solutions. I know that other cities will look to our example, and I implore them to join us.” The mayor said NYCERS new goal doubles investments in climate change solutions to $4 billion, or 2 percent of the city’s $195 billion pension portfolio over the next three years. “This is an important step in finding clean energy solutions,” said Henry Garrido, executive director of DC 37. “I applaud the Mayor and [More...]

Our Pensions and Renewable Energy

October 9, 2018 // 0 Comments

By HENRY GARRIDO Executive Director, District Council 37, AFSCME, AFL-CIO NEW York City Mayor Bill de Blasio, Comptroller Scott M. Stringer and other trustees of the city’s pension funds recently announced a new goal to double the funds’ investments in climate change solutions to $4 billion, or 2 percent of the city’s $195 billion pension portfolio, over the next three years. This plan builds upon an earlier announcement to divest city pension funds from fossil fuels within five years. Opponents have engaged in scare tactics. In recent months, the Daily News has published two hyperbolic op-ed pieces criticizing these moves and falsely assailing the motives behind them. On the internet, opponents exploit the anxieties of pensioners and urge them to sign a petition, essentially just saying no to the future. Safeguarding our retirement As a trustee of the New York City Employees [More...]