Over $200 billion new reasons investors care about climate change....

NY State's $226 billion pension fund said it will divest from many fossil fuel companies within 5 years, and from other companies causing an adverse impact on the climate by 2040 (if they are unable to eliminate harmful greenhouse emissions). It is serious and noteworthy news for the marketplace from such a large, influential and conservative investor, sure to push an already fast-paced move away from such companies who are unable to change course toward climate-friendly business. This is a growing trend for long-term, institutional investors in the UK, Ireland and Sweden, all of whom have demonstrated a meaningful commitment by investing in ways designed to advance a low-carbon future, viewed as critical to long-term financial stability. Other institutional investors will no doubt make similar moves, underscoring the importance of the "E" in the growing relevance of ESG considerations for market participants.  Are you ready?