New York pension leaders back calls for less fossil fuel financing

2022.04.11 23:17

FILE PHOTO: A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri

(Reuters) – New York State pension officials on Monday said they will support shareholder resolutions filed at major banks seeking quick cuts to the financing of new fossil fuel development.

The resolutions filed at banks including Bank of America Corp (NYSE:BAC), Goldman Sachs Group Inc (NYSE:GS) and four others deserve support “in order to mitigate the systemic risks posed by unfettered climate change,” according to a statement sent by a representative of New York State Comptroller Thomas DiNapoli, who oversees retirement assets.

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