As US states and territories grapple with rebuilding costs and the need for enhanced resilience in the wake of extreme weather events, this CGS report and analysis recommends specific actions the State of Maryland could take to more fully account for climate related risks facing its state pension system.
Drawing on research on climate-related investment risks, opportunities, and responsibilities, the report explores the extent to which the Maryland State Retirement and Pension System (SRPS) incorporates such risks in its investment planning and other practices. The report further describes best practices for managing institutional investment portfolios in the face of climate change and offers recommendations for how Maryland SRPS can incorporate climate risk and opportunity into its operations.