A deal is reached between a New York pension fund and businesses to cut carbon emissions.
Four companies New York's pension fund has invested in have agreed to analyze and target a reduction in their greenhouse gas emissions, Comptroller Tom DiNapoli on Tuesday said.
The companies included Carrier Global Corp, Papa John's International Inc., Century Aluminum Co. and Spirit Reality. Kraft Heinz, meanwhile, will create a deforestration-free policy of sourcing.
“More companies understand that reducing their carbon emissions and addressing the risks posed by climate change can help them achieve long-term success and benefit investors," DiNapoli said. “With these agreements, the companies are contributing to building a lower-carbon economy and are recognizing their responsibility to be responsive to shareholders’ concerns about the risks posed by climate change.”
DiNapoli's office has sought to leverage the strength of the state's pension fund and its investments in companies to have them set climate goals in the coming years. The effort coincides with a separate push by the state government to sharply reduce carbon emissions in New York by the midpoint of the century.
The pension fund has filed more than 160 climate-related shareholdr resolutions, reaching agreements with 85 companies in the portfolio.