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Advocates press committee to require PRIM climate‑risk reviews and greater pension transparency
Summary
Environmental groups, retirees and financial advisers urged the Joint Committee on Public Service to require the state pension fund to analyze and reduce climate‑related investment risks through bills such as H.2811 and H.4126.
Advocates from the Sierra Club, Warheads to Windmills, Third Act Massachusetts and other groups urged the Joint Committee on Public Service July 16 to pass legislation requiring the Pension Reserves Investment Management (PRIM) board to analyze and address climate‑related financial risks in the Massachusetts state pension fund.
Jess McGahn, deputy director of the Massachusetts Sierra Club, told the committee H.2811 is “essential to upholding the funds’ fiduciary duty,” arguing that unaddressed climate risk could undermine beneficiaries’ retirement security and expose taxpayers. McGahn and other witnesses…
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