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DiNapoli directs investments toward renewable energy

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Mike Desmond/wbfo news
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New York State's public employee pension fund is putting billions of dollars into green energy and renewable energy

State Comptroller Thomas DiNapoli says it's good for the planet and it's also a good investment for a fund which always needs to pay those monthly pension checks.

"At the end of the day, if we can reduce costs as part of this effort, that's going to be great not only for taxpayers but for individual consumers," DiNapoli said Wednesday night while speaking last night to the Party for the Climate in the Tralf Music Hall.

"There are ways to more cost-effectively manage our energy resources. But, the bottom line needs to be even if the costs stay the same, we have to be smarter. We know that global warming is real. We know that greenhouse gases are contributing to that."

DiNapoli says when the sponsors of the recent Paris Climate Change Conference heard about the pension fund investments, he was invited to the conference and to sit on one of the panels talking about the issues. He says the pension fund is also shifting away from investments like coal and he's not enthused about nuclear because as a resident of Long Island, electric customers are still paying for a nuclear plant which never opened.

Mike Desmond is one of Western New York’s most experienced reporters, having spent nearly a half-century covering the region for newspapers, television stations and public radio. He has been with WBFO and its predecessor, WNED-AM, since 1988. As a reporter for WBFO, he has covered literally thousands of stories involving education, science, business, the environment and many other issues. Mike has been a long-time theater reviewer for a variety of publications and was formerly a part-time reporter for The New York Times.