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A potent winter storm is thumping 1,500 miles of the US. Two more are right behind it; Amid scientists' warnings, Trump admin. sued over medical research cuts; Mississippi communities find local solutions to rural education challenges; CT groups rally against gas pipeline expansion.

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President Donald Trump approves 25% tariffs on steel and aluminum. Democrats who oppose dismantling the agency have been denied access to the Department of Education. And some places buck policy trends on sex education and immigration.

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Medical debt, which tops $90 billion has an outsized impact on rural communities, a new photography book shares the story of 5,000 schools built for Black students between 1912 and 1937, and anti-hunger advocates champion SNAP.

How to approach MD climate risks when saving for retirement

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Monday, January 13, 2025   

For workers or pension systems trying to keep support for the fossil-fuel industry to a minimum, one expert has some suggestions.

Just last month, Maryland State Retirement and Pension System officials voted to create a climate advisory panel. The panel will be tasked with advising the pension system on how to consider climate risks in investments.

For those who are just starting to invest for retirement, Jessye Waxman - campaign advisor on Sierra Club's fossil-free finance team - said fossil-fuel stocks aren't the most profitable or stable option.

"The fossil-fuel industry has been pretty volatile in terms of the kinds of returns it's looking at," said Waxman. "Holding fossil fuels is actually a more risky proposition. They're creating a lot of instability and not optimizing for portfolio returns."

A study of Maryland's pension portfolio agreed. It found the stocks in oil and gas companies in Maryland's pension system were falling behind.

The study found the portfolio would have grown an additional 10% if the pension system had divested in 2010.

For those current shareholders, Waxman said to hold investments and use voting power to keep companies accountable on climate issues.

That includes denying debt, which involves not buying new bonds for fossil-fuel companies. That, she said, makes it more difficult for fossil-fuel companies to operate - or expand operations.

"If you are a shareholder," said Waxman, "hold the stocks that you have, and use that to leverage your power as a shareholder to hold companies and their boards accountable for their greenhouse-gas emissions, for decarbonization efforts."

A Sierra Club report found that bonds are a growing share of financing for fossil-fuel company projects, such as new pipelines and coal power plants.

In 2000, bonds accounted for 14% of fossil-fuel financing, compared with 52% in 2020.



Disclosure: Sierra Club contributes to our fund for reporting on Climate Change/Air Quality, Energy Policy, Environment, Environmental Justice. If you would like to help support news in the public interest, click here.


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