What’s the story?

The New York City Employees’ Retirement System (NYCERS)—under the direction of city Comptroller Brad Lander (D)—joined the Net-Zero Asset Owner Alliance (NZAOA), extending its commitment to ESG investment strategies. NZAOA’s members manage more than $9.5 trillion and commit to using their investments to reduce carbon emissions.

Why does it matter?

The NYCERS move is a public divergence from recent private asset manager trends. While the city’s pension system is expanding its ESG investing commitments, large companies—including Blackrock, JP Morgan Chase, and State Street—have withdrawn from or scaled back their relationships with global climate investment alliances this year.

Lander has also promoted his ESG record in his 2025 NYC mayoral campaign, meaning the move could become a topic in the race. 

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