Loose Change: New York pension fund to divest from fossil fuels

New York’s massive pension fund is poised to divest from many of its fossil fuel stocks over the next five years, with the state’s comptroller arguing the move would protect the fund over the long term as the world shifts to a low-carbon economy. The state’s $226 billion in assets will drop stocks that do not meet new standards requiring them to show a “future ability to provide investment returns in light of the global consensus on climate change,” New...