Andy to seek eco-friendly pension fund

ALBANY — Gov. Cuomo on Tuesday proposed reducing the state’s financial carbon footprint in its $192.4 billion pension fund — which he does not control.

In the latest rollout of initiatives to be included in his State of the State address next month, Cuomo said he would call for the pension fund to cease investing in fossil fuel companies.

Cuomo also said he would work with state Controller Thomas DiNapoli — who controls the fund — to create a special committee that would draft a “de-carbonization roadmap” to divest the fund of fossil fuel investments.

DiNapoli, however, stopped short of committing to Cuomo’s goal.

“While there are no immediate plans to divest our energy holdings, I welcome the opportunity to partner with Gov. Cuomo and with the proposed advisory council to identify additional ways to continue our progress in achieving investment returns, while contributing to the emerging low-carbon economy,” DiNapoli said in a statement.

The pension fund has more than $957 million invested in Exxon Mobil, according to the fund’s most recent annual report.