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Climate Risk: Florida's Treasury Gets It, Wall St. Still Clueless

Climate Risk: Florida's Treasury Gets It, Wall St. Still Clueless

The state of Florida has a chief financial officer named Alex Sink who looks after the state's $140 billion pension fund. Two weeks ago, she told fund managers in charge of a $20 billion chunk that she wanted answers to a new question: how are they calculating the risk of climate change when they decide where to park the state's money. Since joining the Investor Network on Climate Risk in April, Sink did her homework and as a public servant, decided she'd better question the wisdom of trusting taxpayer money to carbon-intensive investments. She's way ahead of many on Wall Street, as evidenced by some analysts who were having a hard time embracing Google's announcement yesterday on renewable energy.