Albany Watch

State Comptroller Thomas DiNapoli just announced his Green Strategic Investment Program, which will increase pension fund investments in environmentally focused companies by $500 million over the next three years.

“Clean technology and renewable energy have become increasingly profitible,” DiNapoli said in a statement. “It’s not just about doing good for the environment; going green is good for the bottom line too.”

The program currently has $40 million invested in private equity funds that are focused on renewable energy and clean technologies. It has more than $440 million in commitments to funds that have clean technology as a component of the overall strategy.