New York pension fund could have made billions by divesting from fossil fuels – report

Moving money out of fossil fuels and into environmentally-friendly tech could have made members of the state's pension fund an extra $4,500 each

New York State's pension fund would have an additional $5.3bn to give to its retired employees if it had divested from fossil fuel companies and put that money into clean energy, according to a new report.

The analysis, compiled by research firm Corporate Knights, assessed the fund's top 100 domestic and international equity holdings, and calculated how much it would have earned over the past three years if it had got rid of its investments in coal, oil and gas companies.