Investment performance serves as the benchmark for New York State's Andrew Siwo's success.

The New York State Retirement Fund, managing the retirement savings of over a million New Yorkers with assets worth $267.7 billion, has announced a significant shift in its investment strategy. The fund, which oversees three New York City Systems including the Employees' Retirement System, Teachers' Retirement System, and the Board of Education Retirement System, has pledged to reduce its positions in fossil fuel shares.

Despite the recent accusations of breaching fiduciary duty, the fund is continuing its investments in private markets, with a focus on energy transition assets. The fund's Sustainable Investment and Climate Strategy (SICS) Programme, which manages $40 billion, has the second biggest position in real assets such as sustainable infrastructure and renewables.

The New York State Retirement Fund has partially divested from Exxon Mobil but continues to hold companies which meet its minimum standards. Approximately 40% of the fund's overall portfolio is invested in listed equities, with the fund using mainstream benchmarks to measure the performance of its investments.

The fund's SICS Programme has seen a growing focus on climate-related investments. The New York State Retirement Fund has already divested $26.8 million from eight fossil fuel firms, reflecting its commitment to reducing carbon emissions.

The New York State Retirement Fund's strategy has not fundamentally changed, with exiting a holding being considered the most prudent decision in some cases. The fund views engagement and advocacy as complementary tools and has had success in protecting retirement assets by using the various tools outlined in its Climate Action Plan.

The legal challenges against the three New York City Systems have been dismissed by a New York State Court. The Inflation Reduction Act, expected to provide incentives for innovation and encourage domestic energy independence, is expected to provide clearer benefits as investments mature in the private markets.

The New York State Retirement Fund's 2019 Climate Action Plan includes an option for divestment, but the preference for engagement over divestment in many cases is a conscious decision. The name of the administrator of the SICS program of the New York State Retirement Funds led by Andrew Siwo was not provided in the search results.

In conclusion, the New York State Retirement Fund is moving towards a more sustainable investment strategy, focusing on energy transition assets and climate-related investments. The fund's approach is a balance between engagement and divestment, with the preference for engagement in many cases. The fund's commitment to reducing carbon emissions and protecting retirement assets is evident in its actions and strategies.

Investment performance serves as the benchmark for New York State's Andrew Siwo's success.