This past Wednesday, in a debate versus NYS Comptroller DiNapoli and opponent Antonacci, DiNapoli spoke about a divestment in the pension fund toward fuel such as coal, natural gas and oil. For our current comptroller, climate change and its economic effects are important in the managing and investment of the pension fund. In this debate, DiNapoli said that "long-term sustainability wasn't a political calculation but rather a financial one, and that corporations' behavior is a major factor in managing the fund". In order to make the best investments, DiNapoli wants to make sure that companies are exhibiting proper corporate behavior. National environment advocacy groups wish he went further on the issue, but overall applauded DiNapoli for his statements. Despite these statements to divest, no major policy changes have been cited.
I'm glad that DiNapoli is addressing an issue that affects not only New Yorkers but the world at large and making sure that money is well spent since it's his job. It's important that he dumps fossil-fuels from the pension fund for a better future. He is successful in showing that he can manage New York's pension by maxamizing tax returns and investing with care. Although he did make a point of addressing the issue and his office says that climate change and its effects economically are important in budget management, I hope he isn't addressing the issue soley to attract a certain group of voters due to the upcoming election. If re-elected, hopefully he continues to make these "steps in the right direction".
http://www.capitalnewyork.com/article/albany/2014/10/8554746/dinapoli-considers-divestment-question
It is both impressive and exceedingly ambitious for DiNapoli to address widespread and long term divestment.
ReplyDeleteDiNapoli seems to be doing a good job in his role as Comptroller. He successfully shows that he can manage New York's pension, and I trust that if re-elected he will do what he had addressed.
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