NY retirement fund appoints first ESG director

The New York State Common Retirement Fund has appointed Andrew Siwo as director of Sustainable Investments and Climate Solutions.

Siwo’s will implement New York City Comptroller Thomas DiNapoli’s Climate Action Plan, which calls for divestment from companies that don’t meet minimum carbon-emissions standards that the fund will adhere to. The pension fund plans to increase its allocation from $10 billion to $20 billion over the next decade to its “Sustainable Investment-Climate Solutions Program.”