NY A01580

Requires the New York State Teachers' Retirement System to create an exclusion list of coal producers (companies deriving at least 10% of revenue from thermal coal) and oil and gas producers (companies deriving at least 20% of revenue from oil/gas production) within six months of the act's effective date

Mandates divestment from coal producers within one year and from oil and gas producers within two years, with private equity and debt investments allowed up to five years to complete divestment

Permits investment in index funds only if they have no more than 1% of assets invested in fossil fuel producers on an annual average basis

Protects the retirement board, employees, and members from private lawsuits for good faith divestment actions and maintains fiduciary duty requirements under the state constitution and prudent investor rule

Requires annual public reporting to legislative leaders on divestment progress, including disclosure of any remaining private equity or debt holdings in fossil fuel producers with a 60-day public comment period