New York City's public pension systems have reduced their weighted average Scope 1 and 2 financed greenhouse gas emissions by 48.13% since 2019. The funds are now ahead of their interim targets as they work toward a net zero goal by 2040. To achieve these results, the city is requiring asset managers to submit detailed decarbonization plans. While most managers have complied, the Comptroller's office continues to flag BlackRock and Fidelity for failing to align with the city's climate expectations.
