Crystal Lewis at The Chief Leader reports the City Comptroller’s Office has announced two of New York City’s five Pension Systems have announced plans to divest from fossil fuel investments by 2040 and to also pressure private market managers to set goals to combat climate change.  The Teachers Retirement System (TRS), which has a $91.5 billion investment portfolio, approved a so-called net-zero implementation plan.  The $78 billion New York City Employees Retirement System voted to adopt a similar program in February.  The pension systems will focus on investing in climate change solutions such as renewable energy and low-carbon buildings and engaging portfolio companies to align with the City's goals of reaching net-zero emissions.  NYCers aims to invest $17 billion in climate solutions by 2035.  By that same year, TRS seeks to invest $19 billion.  The funds will also set interim targets to reduce emissions by 32% by 2025 and by 59% by 2030.

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