Interesting !!!DJ Shale Drillers Miss NY Retirement Fund's Net-Zero Cut -- Market Talk 1031 ET - The third-largest US public pension fund says it's dumping $238M in investments in 21 shale oil and gas companies that it says failed to show they are ready for the transition to a low-carbon economy. The New York State Common Retirement Fund says it reviewed 42 companies as it works to transition its portfolio to net zero greenhouse-gas emissions by 2040 and found half of them lacking, including Pioneer Natural Resources, Hess and Chesapeake Energy. The holdings represent a fraction of the nearly $280B in assets held by the fund, which says it will now turn its attention to integrated oil and gas companies. (colin.kellaher@wsj.com)
(END) Dow Jones Newswires
February 09, 2022 10:31 ET (15:31 GMT)