NYC pension plans withdraw climate proposals from 3 companies

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“Duke Energy has agreed to include additional information in its earnings materials, upcoming climate report and ESG Investor Day materials,” the press release read. “Dominion Energy has agreed to include in its climate report a narrative discussion of its capital allocation evaluation process related to the company’s climate objectives and its planned and projected investments.”

For General Electric, pension funds have won an agreement to make climate change lobbying activities public in 2022.

The Comptroller’s Office filed the shareholder resolutions on behalf of the New York City Employees Retirement System, the New York City Teachers Retirement System, and the New York City Board of Education Retirement System. City of New York to be presented at the annual meetings of the respective societies. The three funds represent $192 billion of the $262.4 billion in pension system assets.

Each pension fund has a separate foundation board. The boards of the New York City Police Pension Fund and the New York City Fire Pension Fund did not participate.

The Office of the Asset Management Comptroller manages investments for the five pension funds.

As of Feb. 28, the three pension funds owned 1.72 million shares of GE, valued at $164.3 million; more than 982,000 shares of Duke Energy, valued at $98.7 million; and more than 886,000 shares of Dominion Energy, valued at $70.5 million, according to the press release.

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