The Decarbonization Advisory Panel was charged with advising the New York State Comptroller, the sole trustee of the $209 billion New York State Common Retirement Fund, on how best to mitigate investment risks form climate change and maximize opportunities from the new, low-carbon economy. This report details the six-member panel’s beliefs and recommendations. The panel recommends the fund pursue a 100% sustainable portfolio by 2030, create a new climate solutions allocation and break down the dozens of soft barriers getting in the way of investing in a new climate.