Auditor Blaha Applauds Report on Impact of Climate Change on State Investments - August 24, 2022
Saint Paul, MN – Today the Minnesota State Board of Investment introduced recommendations to respond to climate change in its portfolio.
“Minnesotans know that climate change is real and want to see action,” said Auditor Blaha. “Minnesotans also want to keep their promises to public servants like firefighters, teachers, nurses, and other government workers by protecting their pension funds. By committing to manage climate change’s economic impact in our investment strategies, we have an opportunity to do both.”
Today the State Board of Investment considered the final installment of a three-part report on the impact of climate change on the fund. The report lays out the evidence that rising global temperatures are changing risks and opportunities in financial markets. The report goes on to recommend that considering climate change risks and opportunities is a key strategy to protect investment funds long term.
“We have the data, we have options, and now it’s time to choose a course of action,” continued Blaha. “My next step is to share this data and connect with members of the public to get their input.”
“Whether your focus is on protecting the planet or protecting the bottom line, it’s time to increase climate change considerations in Minnesota’s investment strategies,” added Blaha.
The Climate Change Investment Analysis Report may be viewed on the State Board of Investment website.