New York State Restricts Investments in ExxonMobil, But Falls Short of Divestment

New York State’s largest public pension fund is restricting its investments in ExxonMobil after determining the oil company is failing to prepare for a low-carbon world. The announcement falls far short of pledging a full divestment from Exxon, however, and the fund will continue to hold hundreds of millions of dollars worth of shares in other major oil companies.