IMO - New York state pension fund to pull investments in Canada oil sands

New York state's pension fund said today it will sell off $7M worth of securities in six Canadian oil sands companies and not make future investments in them: Imperial Oil (IMO), Canadian Natural Resources (CNQ), Cenovus Energy (CVE), MEG Energy (MEGEF), Athabasca Oil (ATHOF) and Husky Energy, which has been acquired by Cenovus.Suncor Energy (SU), one of the oil sands' largest players, was not on the list.State comptroller Thomas DiNapoli said the fund is pulling out of companies that have not shown viable plans to adapt to a "low-carbon future."The New York State Common Retirement Fund is the third-largest U.S. pension fund, with an estimated valuation of ~$248B.

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New York state pension fund to pull investments in Canada oil sands