INVESTMENT AND FIDUCIARY ANALYSIS OF PRUDENT STRATEGIES FOR DIVESTMENT OF SECURITIES ISSUED BY FOSSIL FUEL RESERVE OWNERS FOR THE NEW YORK CITY RETIREMENT SYSTE...

Title: INVESTMENT AND FIDUCIARY ANALYSIS OF PRUDENT STRATEGIES FOR DIVESTMENT OF SECURITIES ISSUED BY FOSSIL FUEL RESERVE OWNERS FOR THE NEW YORK CITY RETIREMENT SYSTEMS Procurement Section Comptroller (OOC) Agency Name Asset Management Agency Division 1 Centre Street, Room 800, New York, NY 10007 Request Address Noreen Pye phone: (212) 669-4949 email: npye@comptroller.nyc.gov Contact Information Current Status Goods and Services Category Request for Proposals Selection Method 12/18/2018 Publication Date Solicitation Notice Type PIN#015-198-231-00 ZQ - Due: 2/8/2019 2:00 PM PIN - Due Date Attachments 1 ad Description The Office of the New York City Comptroller (“Comptroller”), acting on behalf of the New York City Employees’ Retirement System (“NYCERS”), the Teachers’ Retirement System of the City of New York (“Teachers”), and the New York City Board of Education Retirement System (“BERS”), (collectively “the Systems” and individually a

“System”), has prepared and is distributing a Request for Proposals (”RFP”) to identify a firm or firms to provide investment analysis, evaluation and advice (“Investment Analysis Services”) to the Boards on developing a prudent strategy for potential divestment from securities of fossil fuel reserve owners consistent with fiduciary duty and the investment objectives of the Systems. Consistent with the policies expressed by the City of New York, participation by minority-owned and women-owned businesses or partnering arrangements with minority-owned and women-owned investment firms are encouraged. Additionally, participation by small and New York City-based businesses is also encouraged. Proposals in response to the RFP must meet the following minimum requirements: 1. Firm must agree to be a fiduciary to the Systems. 2. Firm must be registered as an investment advisor under the Investment Advisers Act of 1940 (or foreign equivalent) to the extent necessary for the Firm to provide the Investment Analysis Services in compliance with applicable laws. 3. Firm’s Key Professionals (hereinafter defined) to be assigned to this engagement must, as of October 31, 2018, have at least five (5) years of demonstrated prior experience in investment consulting and/or investment management services. In addition, the lead member of the NYC Service Team (hereinafter defined) must have at least seven (7) years of demonstrated experience in investment consulting and/or investment management services and three (3) years of demonstrated experience advising on issues of climate change. The Key Professionals must also have experience advising and/or providing investment management services to institutional investors of at least $1 billion of assets under management. 4. Proposers should refer to the NYCRS Ethics and Compliance Policy (the “Policy”), Exhibit 3, to this RFP and then indicate their ability and willingness to comply with the Policy by signing RFP Certification (the “Certification”) that appears as Exhibit 3-A to this RFP. The RFP which fully describes the scope of work, minimum requirements, proposal submission procedures and the evaluation process will be available for download from the Comptroller’s website, www.comptroller.nyc.gov, on or about December 18, 2018. Select “RFPs and Solicitations” then click the RFP to complete the form to download the RFP. Questions about the RFP should be e-mailed to Noreen Pye at ClimateStudy@Comptroller.nyc.gov by January 14, 2019 by 2 p.m. Proposals are due by February 8, 2019 by 2 p.m. (EDT).