New York City public pension funds have appointed Massachusetts based consultant Meketa Investment Group and Blackrock to advise on their fossil fuel divestment plans.
Meketa, which recently advised California’s new state-backed auto enrolment pension scheme CalSavers on its ESG option, will now work with three of the City’s five public pension pots on a “comprehensive and prudent divestment strategy”.
Those funds are New York Employees’ Retirement System (NYCERS), New York City Board of Education Retirement System (BERS) and New York City Teachers’ Retirement System (TRS).
Separately, TRS has announced a contract with BlackRock Financial Management in relation to the divestment, the City has revealed.
The Office of New York City Comptroller, Scott Stringer also released a “Notice of Search (NOS)” for “public markets investment managers” to help double its investments in climate solutions – a move it announced in September 2018.
In January …