ALBANY— Government unions are opposing a bill that would force Comptroller Thomas DiNapoli to dump all fossil fuel investments from the state’s $207.4 billion pension fund.

“The Fund is one of the best funded and best managed pension funds in the country. Opening the Fund’s investment decisions to the political trade winds will jeopardize the financial security of over one million current and future retirees,” the Civil Service Employees Association, which represents 300,000 public and private sector members, said on its website.

The “Fossil Fuel Divestment Act” mandates that the state pension fund dump its portfolio of some 200 fossil fuel companies within five years.

“We oppose this bill. The State Comptroller is the sole trustee of the state’s pension fund and has the legal and fiduciary responsibility to make investment decisions solely for the purpose of ensuring the benefits of our retirees are secure now and into the future,” added AFL-CIO president Mario Cliento.

A report commissioned by the Suffolk County Association of Municipal Employees said divestment would result in tax hikes and cuts to local programs within 30 years as the government came under pressure to raise more money to pay for pensions.

The study by Foster & Foster Consulting Actuaries, a Florida firm, analyzed returns from the fund’s current investments in green energy and fossil fuel stocks and concluded that the fossil fuel holdings outperformed their green energy counterparts in the long term.

“For my members, the average pension received is $35,000, and they’re very protective of that. That’s probably about half a living wage in Suffolk County,” said union president Daniel Levler.

“I’m opposed to the concept of taking a portion of investments that has solid returns and pushing it to something that is volatile. To a certain extent, I believe its political…the governor I believe is of the opinion that we should do things to be as progressive as possible. The world still revolves around them [fossil fuels] and as the world changes, so will the investment strategy and the Comptroller will make those decisions. The market will adjust and so will the common retirement fund,” he added.

In a report earlier this month, Gov. Cuomo’s Decarbonization Advisory Panel recommended a 100 percent transition to “sustainable assets” by 2030.

“The fact is that the Comptroller’s fiduciary responsibility not only allows him to divest, but the time is fast approaching when it will compel him to do so. Whether he moves on his own or as a result of legislative action is all the same to me,” said state Sen. Liz Krueger (D-Manhattan), sponsor of the bill that would force divestment of the fossil fuel holdings.

“It’s time for New York State to stop investing in the dirty fuels of the past. The climate crisis is here – fiduciary and moral responsibility require the process of divestment to begin now,” she added.