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Pension Funds

Reuters | Equities.com |

The third-largest U.S. public pension fund on Thursday said it is launching reviews over climate concerns on $640 million invested in 42 shale oil and gas firms, including ConocoPhillips, Hess and Pioneer Natural Resources.

The move by the New York state pension fund comes days after the United Nation's Intergovernmental Panel on Climate Change reported global warming was nearly out of control, and calling its findings "a death knell for coal and fossil fuels."