Auditor Blaha applauds report on impact of climate change on state investments – August 24, 2022

Contact: Donald McFarland | 651-236-0494

Saint Paul, MN – Today, the Minnesota State Board of Investment presented recommendations for addressing climate change in its portfolio.

“Minnesota residents know climate change is real and want to see action,” Auditor Blaha said. “Minnesota residents also want to keep their promises to public servants like firefighters, teachers, nurses and other government employees by protecting their pension funds. By committing to managing the economic impact of climate change in our investment strategies, we have the opportunity to do both.

Today the State Board of Investment reviewed the latest installment of a three-part report on the impact of climate change on the fund. The report presents evidence that rising global temperatures are altering risks and opportunities in financial markets. The report goes on to recommend that taking into account the risks and opportunities associated with climate change is a key strategy to protect investment funds over the long term.

“We have the data, we have options, and now it’s time to choose a course of action,” Blaha continued. “My next step is to share this data and reach out to members of the public to get their input.”

“Whether you focus on protecting the planet or protecting the bottom line, it’s time to increase climate change considerations in Minnesota investment strategies,” Blaha added.

The Climate Change Investment Analysis Report can be viewed on the State Board of Investment website.

Teresa H. Sadler