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NYC comptroller proposes $5 billion expansion in pension climate investments

New York City Comptroller Mark Levine recommended a $5 billion expansion in private markets climate investments across three city pension funds on September 23, 2026.

NYC comptroller proposes $5 billion expansion in pension climate investments
Comptroller Mark Levine speaking at an outdoor event, file photo.
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New York City Comptroller Mark Levine on September 23 recommended a $5 billion expansion in private markets climate investments across three of the city’s public pension funds, a step his office said moves the funds toward their goal of investing $37.8 billion in climate solutions by 2035. He unveiled the proposal during his first Climate Week as comptroller.

The Comptroller’s Office’s Bureau of Asset Management expects to present a total of $5 billion in new private market investment opportunities to the boards of the New York City Teachers’ Retirement System (TRS), the New York City Employees’ Retirement System (NYCERS) and the Board of Education Retirement System (BERS), along with their investment consultants. Each board will consider the opportunities for approval, subject to its system’s own due-diligence and fiduciary review. The opportunities focus on renewable power generation, grid modernization, energy efficiency and storage, clean transportation and building decarbonization, as well as technologies that reduce pollution, strengthen energy and water security, and improve resilience to extreme weather.

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Featured image: Metropolitan Transportation Authority via Wikimedia Commons, CC BY 2.0, modified

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