FOR IMMEDIATE RELEASE: Apr. 22, 2025

CONTACT: Carter Dougherty, carter@ourfinancialsecurity.org

NYC Comptroller Brad Lander Announces Asset Manager Accountability Policy on Earth Day

New York, NY — NYC Comptroller Brad Lander announced standards by which he will evaluate the net zero plans of the asset managers that oversee the city’s pension assets. He will recommend the boards of trustees of the city’s pensions pursue other asset management options through a bidding process should some of their current asset managers fail to meet those standards.

“We applaud Comptroller Lander for taking this important step to hold the asset managers New Yorkers entrust with their deferred wages accountable to acting in their best interests,” said Natalia Renta, associate director of corporate governance and power at Americans for Financial Reform Education Fund. “These asset managers are large financial institutions with enormous power over our financial system and economy, and they should use that power to further the interests of the public workers and retirees who are their clients — not to exacerbate the climate crisis.”

“Climate change is wreaking havoc on the lives, homes, and retirement savings of New Yorkers and the asset management industry has played a key role in driving the crisis,” said Alex Martin, policy director of climate finance at Americans for Financial Reform Education Fund. “It’s high time that someone called out asset managers on their greenwashing and established some consequences for firms that fail to guard against physical risks and execute a credible net zero transition plan.” 

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