Transcript:
The damage caused by extreme storms, droughts and wildfires can damage the economy.
Therefore, Allie Lindstrom of the Sierra Club said that to protect retirement savings for teachers, firefighters and other public workers, public pension funds need to address the risks of climate change.
Lindstrom co-wrote a report on how 30 public pension funds in the U.S. respond to climate change in their voting records and proxy voting guidelines – policies that shape how funds vote on shareholder issues.
Lindstrom: “For the average person, shareholder votes may fly under the radar, but it’s a really important way for investors … to hold companies responsible for being good community members.”
The highest-scoring funds have guidelines that recognize the risks to the economy of climate change and set expectations of companies taking action — for example, by limiting carbon pollution.
Lindstrom: “If you are a participant or beneficiary of the public pension fund program…you have the right to advocate for pension funds to take steps to protect your retirement savings from climate change.”
So she encourages people to speak out in public meetings, by email or through the alliance.
Report Credit: Chavobart Digital Media
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