A report to the Comptroller of the State of New York as the sole trustee of the New York State Common Retirement Fund (the Fund) on how the Fund can best mitigate investment risks stemming from climate change and maximize opportunities from the new, low-carbon economy.
Statement of Anastasia Titarchuk, Interim Chief Investment Officer, New York State Common Retirement Fund.
As Comptroller of New York State and Trustee of the Common Retirement Fund (CRF), I am deeply concerned about the impact of climate change on the Fund’s investments, as well as its impact on the economy as whole.
In November, the Office of the State Comptroller approved 1,384 contracts for state agencies and public authorities valued at $25.5 billion and approved more than 12.3 million payments worth more than $11.7 billion. The office rejected 91 contracts and related transactions valued at $610 million and nearly 5,200 payments valued at nearly $39.7 million, primarily for mistakes, insufficient support for charges, and improper payments. More information on these contracts and payments is available at www.openbooknewyork.com.
New York City’s finances have remained resilient so far during the COVID-19 pandemic, largely as a result of tax revenue from the financial services sector, but the city will face some dire choices in 2021 if the federal government does not deliver direct aid to state and local governments soon, according to a budget analysis released today by State Comptroller Thomas P. DiNapoli.
New York State Comptroller Thomas P. DiNapoli announced today the following audits have been issued.
State tax receipts in November were higher than expected by the Division of the Budget (DOB), but collections through the first eight months of the state fiscal year were $3 billion lower than last year, according to the monthly State Cash Report released by New York State Comptroller Thomas P. DiNapoli.
New York State Comptroller Thomas P. DiNapoli today announced that the New York State Common Retirement Fund (the Fund) has filed a shareholder proposal at Amazon.com, Inc. asking for an independent audit to assess the company’s policies and practices on civil rights, equity, diversity and inclusion, and how they affect the company’s business.
Whatever you celebrate, please keep yourself and family safe. Let's stay NY Tough in the days ahead.
Climate change poses risks to the economy, financial markets, and the Fund’s investments. Managing these risks is integral to protecting the Fund’s investments, and capitalizing on the opportunities that arise from the transition to a net-zero economy is similarly critical to ensuring that the Fund is best-positioned for market changes stemming from the transition.
