Bill > H4819

This bill mandates the review of climate risk in order to protect public pension beneficiaries and taxpayers. It establishes a Climate Risk Investment Review Committee within the Office of the Treasurer to study and review the potential financial risks to beneficiaries and taxpayers associated with any climate risk investments, such as fossil fuel or biofuel investments, in the public pension fund portfolio. The committee will provide recommendations to the Pension Reserves Investment Management Board on how to mitigate these risks, and the board must follow the committee's directives. The committee is required to file an annual report detailing its findings and recommendations, which will be publicly available.