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JD, Usha Vance visit Greenland as Trump administration eyes territory; Maine nurses, medical workers call for improved staffing ratios; Court orders WA to rewrite CAFO dairy operation permit regulations; MS aims to expand Fresh Start Act to cut recidivism.

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The Dept. of Health and Human Services prepares to cut 10,000 more jobs. Election officials are unsure if a Trump executive order will be enacted, and Republicans in Congress say they aim to cut NPR and PBS funding.

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Rural folks face significant clean air and water risks due to EPA cutbacks, a group of policymakers is working to expand rural health care via mobile clinics, and a new study maps Montana's news landscape.

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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