An Act to mandate the review of climate risk in order to protect public pension beneficiaries and taxpayers

This bill creates a new Climate Risk Investment Review Committee to evaluate the state's public pension fund holdings for investments that could harm the environment or conflict with Massachusetts climate goals. The committee, which includes representatives from various state agencies and independent experts, would meet regularly to study risks associated with fossil fuels and other climate-risk industries. Based on its findings, the committee would assess whether the pension fund should sell or divest from these specific investments to protect beneficiaries and taxpayers. The legislation defines "climate risk investments" broadly to include stocks in the top 200 publicly traded fossil fuel companies and other sectors contributing to climate change.