NYSIF Announced Expansion of Workplace Sustainability Program During Climate Week NYC

Climate Action Premium Credit Program Now Available to All Health, Social Services, and Education Organizations with NYSIF Coverage

New York, NY, Sept. 23, 2026 (GLOBE NEWSWIRE) -- The New York State Insurance Fund (NYSIF), the state’s not-for-profit workers’ compensation insurer, has expanded eligibility for its Climate Action Premium Credit Program. The program provides premium credits for policyholders that pledge to develop a climate action plan and strengthen their resilience to climate-related hazards. The announcement was made at NYSIF's second annual Climate Week NYC event, The Economic and Health Imperatives for Climate Action.

"Today’s event underscored that climate change is having real and present impacts on the health and financial well-being of workers, households, and the economy," said NYSIF Executive Director and CEO Gaurav Vasisht. "By opening its flagship sustainability initiative to additional sectors, NYSIF is helping more organizations address climate-related hazards while reducing workers’ compensation costs – further advancing Governor Hochul’s vision for a more sustainable and more affordable future for New Yorkers.”

NYSIF's Climate Action Premium Credit Program was launched in 2024 as a pilot for hospitals, built on the recognition that the health care system contributes to the greenhouse gas emissions that cause climate change but also deals with the effects of climate change on the health and safety of its workers, patients, and communities. The program provides workers’ compensation premium credits of 5%, up to $1 million, to employers that pledge to develop and implement a climate action plan with strategies to reduce greenhouse gas emissions and enhance resilience. The program was expanded in 2025 to include other health care providers as well as manufacturers and distributors of products used in the health care setting.

With the expansion announced today, the program is now open to any current or future NYSIF policyholder engaged in health, social services, or education. These sectors include organizations with workers that are exposed to the growing risks of climate-related challenges, such as extreme heat, wildfire smoke, and flooding, and that often serve vulnerable populations who are disproportionately affected by those same risks. 

The announcement was made during NYSIF's second annual Climate Week NYC event, The Economic and Health Imperatives for Climate Action. Held during Climate Week NYC, the event brought together experts to examine the health, insurance and economic implications of climate change, underscoring its human and economic consequences and highlighting practical responses across sectors. 

“Climate action is about building a healthier, safer and more resilient economy,” said Angela Barranco, Executive Director Climate Group North America. “By expanding this program, NYSIF is giving more businesses a practical incentive to prepare for climate risks and protect their workers and communities. It’s exactly the kind of leadership Climate Week NYC is designed to accelerate: turning ambition into tangible action.”

Dr. Ann Kurth opened the program with a keynote address on the health impacts of climate change at the individual and population health levels, including implications for health equity. Jessica Marx of the National Academy of Medicine moderated the health panel, featuring three panelists: Baylis Beard of Ascendiun; Aharon Kestenbaum of Montefiore Health System, a participant in NYSIF’s climate program; and David Leathers of the Health Action Alliance. The panel highlighted how health systems, employers, and health insurers are reducing emissions, building resilience and adapting to climate-related hazards such as extreme heat and wildfire smoke.

“I’m grateful for NYSIF’s work in expanding access for its Climate Action Premium Credit Program. This is exactly the sort of solution that can help the health sector with positive momentum in the face of the climate crisis. We need to provide incentives to encourage a greater reduction of greenhouse gas emissions as we pivot towards a more sustainable world,” said Ann Kurth, PhD, CNM, MPH, President and CEO of New York Academy of Medicine. 

Moderated by Lindsey Hall of S&P Global, a second panel focused on insurance included Shan Ge of NYU Stern School of Business, Carolyn Kousky of Insurance for Good, and Chris Lafakis of Moody’s Analytics. The panel examined how rising climate-related losses are disrupting the insurance industry and affecting the cost and availability of coverage for households and businesses.

The third panel included NYSIF Chief Economist Samim Ghamami, Adrian Bilal of Standford University, Steve Strongin of Goldman Sachs, and Johannes Stroebel from the NYU Stern School of Business. The panel discussed the consequences of climate change for the global and U.S. economies, including effects on growth, incomes and costs, and the role of climate and energy policy in supporting decarbonization.

Several panelists at today’s event raised the growing frequency of extreme heat events, one of the clearest ways climate change is affecting workers, employers and communities. NYSIF’s Extreme Heat Equipment Credit helps smaller businesses protect workers in jobs with indoor or outdoor heat exposure, including manufacturing, warehousing, farming, landscaping, roofing and restaurants. The program provides a 10 percent credit, up to $1,000, toward the purchase of heat-related equipment and supplies.

Panelist biographies and additional information about the event can be found on NYSIF's website at The Economic and Health Imperatives for Climate Action.

New York State Department of Environmental Conservation Commissioner Amanda Lefton said, "Climate action and reducing harmful pollution requires a collaborative and inclusive effort with state and local partners working together to address impacts ranging from severe weather, health effects, and more. Under Governor Hochul's leadership, agencies across New York State government are doing their part to help build community resilience and protect residents and the environment. The Climate Action Premium Credit Program through the New York State Insurance Fund is another tool to support businesses and organizations, particularly health care systems and manufacturers, in climate action planning and taking steps to reduce climate-related hazards." 

New York State Health Commissioner Dr. James McDonald said, “We know a changing climate affects health and increases risks for illness, injury, and death, including through warmer weather and poor air-quality. That is why it is critical to respond to climate change in a way that protects public health. By encouraging organizations to develop action plans aimed at mitigating climate-related hazards, this program is another example of the proactive steps we are taking to protect the health of New Yorkers.”

New York State Energy Research and Development Authority (NYSERDA) President and CEO Doreen M. Harris said, “NYSIF’s expansion of the Climate Action Premium Credit Program will provide additional strategies for confronting climate-related challenges in our workplaces. In addition to the sectors already participating, New York’s social services and education sectors will now have access to incentives that will help them efficiently manage their energy use, adopt clean technologies, and reduce their carbon footprint.” 

New York State AFL-CIO President Mario Cilento said, “I commend the leadership of the New York State Insurance Fund and its unionized workforce for continuing to create new ways to protect workers and serve New Yorkers. Leveraging financial incentives for healthcare employers who take steps to reduce climate-related threats protects workers while creating savings for employers.”

   
About NYSIF

NYSIF is the largest workers' compensation insurer in New York State and among the ten largest nationwide. NYSIF covers 2 million workers and insures 200,000 employers in New York State. NYSIF's mission is to guarantee the availability of workers' compensation, disability insurance and paid family leave at the lowest possible cost to New York employers while maintaining a solvent fund. Since its inception over 110 years ago, NYSIF has fulfilled this mission by competing with other insurance carriers to ensure a fair marketplace while serving as a guaranteed source of coverage for employers that cannot secure coverage elsewhere. NYSIF strives to achieve the best health outcomes for injured workers and be an industry leader in price, quality, and service for New York employers. For more information, visit nysif.com. Follow us on Facebook, X, Instagram, YouTube and LinkedIn. Listen to our NYSIF FUNDamental podcast on your favorite streaming platform. 

Sita Fey 
NYSIF
518-708-4488
sfey@nysif.com