Maryland State Investments Must Consider Climate Change

What is happening? Maryland Legislature is considering HB 740 (2022 | MD) that would require state investments, like pensions, to consider climate change impact in their investment decisions.

Why is this important? A new report released in Maryland by Chesapeake Climate Action Network (CCAN) and 350 Montgomery County say the state pension systems “sacrificed significant returns in investment since 2010 by buying and holding “dirty energy stocks.”

How will this be important? According to the researchers, had Maryland divested from fossil fuels beginning in 2010, the pension would have seen gains of 143.77% instead of 128.58%. In short, for every $1,000 invested by the pension fund in 2010, the returns would be $150 greater today had the portfolio divested.

Maryland Matters | Study: Md. Pension Fund Is Losing Money By Holding on to Fossil Fuel Investments