Climate Change Economic Costs Reports and Green Pension Investments
This act aims to increase awareness of the economic costs of climate change through mandatory reports to Congress. It also introduces the possibility of creating pension funds that invest in green technologies, which could impact citizens' future retirement savings and financial stability in the face of climate change.
Key points
The Federal Reserve and the Securities and Exchange Commission will annually report to Congress on the economic costs of climate change, including impacts on the labor market, public health, and property damage.
An advisory panel will be established to recommend investment strategies for federal retirement funds, aligning with greenhouse gas emission reduction goals and seeking profitable clean energy investments.
If the retirement fund board determines that low-carbon investment strategies are not financially profitable, a new Climate Choice Stock Index Fund will be created, which will not invest in fossil fuel entities.
Expired
Citizen Poll