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Lack of climate risk analysis in retirement fund sparks concern
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By David Sherfinski, Thomson Reuters Foundation
7 Min Read U.S. lawmakers eye divesting from fossil fuels States, cities take separate steps to curb risk
WASHINGTON, July 12 (Thomson Reuters Foundation) - The board overseeing the largest public retirement plan in the United States has not comprehensively assessed the risks climate change poses to its investments, a U.S. federal agency says, sparking fears retirement savings pots could be at risk.
The Federal Retirement Thrift Investment Board (FRTIB) says its investment strategies already price in such risks to its portfolio as they track broader indices of companies coming under new pressure to disclose climate risks.
U.S. lawmakers eye divesting from fossil fuels States, cities take separate steps to curb risk
By David Sherfinski
WASHINGTON, July 12 (Thomson Reuters Foundation) - The board overseeing the largest public retirement plan in the United States has not comprehensively assessed the risks climate change poses to its investments, a U.S. federal agency says, sparking fears retirement savings pots could be at risk.
The Federal Retirement Thrift Investment Board (FRTIB) says its investment strategies already price in such risks to its portfolio as they track broader indices of companies coming under new pressure to disclose climate risks.
But federal investigators tasked with ensuring climate risks are accounted for in all areas of the government say the board has not assessed the potential investment risks that climate change poses to the Thrift Savings Plan (TSP).