On Wednesday, December 17, 2025, the New York City Employee Retirement System (NYCERS) trustees tabled outgoing-Comptroller Brad Lander’s proposal to rebid a contract with BlackRock, leaving the potential $42 billion move up to his successor, Mark Levine.

Richard Brooks, Stand.earth Climate Finance Director issued the following reaction:

“BlackRock may have avoided receiving its inevitable lump of coal, but they are still number one on the climate naughty list. We are confident that New York City’s pension funds will continue their leadership in 2026 and finish the job. We look to incoming Comptroller Mark Levine to ensure our pensions are protected from irresponsible managers in the new year.”

As our allies with New York Communities for Change said, while this is disappointing, the fight is far from over: “In the New Year, we look forward to a new Comptroller and new Mayor for action to protect both the pension funds and the planet.”

This comes after PME, the large Dutch public pension fund, shifted nearly $6 billion out of BlackRock, PFZW, moved $17 billion from BlackRock in September, and the UK pension, Peoples’ Pension, dumped $28 billion from State Street in February. All told, these three European pension funds have shifted $50.9 billion from US asset managers over climate in the last 10 months.

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