In June of 2019, Comptroller DiNapoli released a Climate Action Plan, which provides a roadmap for the Common Retirement Fund (CRF) to address climate risks and opportunities across all asset classes. A key component of the plan is the creation of a formal Sustainable Investments and Climate Solutions (SICS) program, and an increase of the Fund’s total commitment to the program to $20 billion. Andrew Siwo is the Director of the SICS program and will build on the Fund’s existing commitment by leading the effort to reach the goal over the next decade.
To date, the Fund has made commitments across asset classes including private equity, actively managed public equity strategies, green bonds, clean and green infrastructure funds, as well as Leadership in Energy and Environmental Design (LEED) certified real estate funds. The Fund continues actively seeking out managers that integrate Environmental, Social, and Governance (ESG) considerations in their investment process, and present risk and return characteristics that track to the relevant asset class and product type. The Fund set 2040 as its target for reaching net zero emissions. Accelerating the Fund's investments in climate solutions will be essential to achieving the Plan’s goals; the Climate Action Plan Progress Report provides an implementation update.
CRF Sustainability Themes
Resources and Environment
Climate and environment
Reducing the effects of climate change through low carbon initiatives.
Making the most of available natural resources.
Pollution and waste management
Minimizing pollution and improving conditions for local communities.
Human Rights & Social Inclusion
Improving the quality of and access to education, particularly for underserved groups.
Ensuring access for diverse groups among critical decision-making bodies.
Health and wellbeing
Improving conditions to support human health, nutrition, and quality of life.
Expanding access to banking, credit, and other vital financial services.
Funding infrastructure that expends economic opportunity and meets standards for environmental management.
Creating equal housing opportunity for low-income families and communities that are chronically underserved.
Please send any individual inquiries regarding the Sustainable Investments and Climate Solutions (SICS) program to [email protected].