Maryland pension system begins weighing portfolio's carbon footprint

The managers of Maryland's pension fund have begun considering the effect their investments have on climate change and how to minimize the carbon footprint of the state's $45 billion portfolio.

The state's chief investment officer told lawmakers Wednesday that the pension system is weighing how efforts to reduce greenhouse gas emissions could lower the value of some of its investments, and how to shift more money to environmentally friendly industries, such as renewable energy.

Members of the General Assembly requested the briefing as large investors around the country are increasingly selling assets linked to fossil fuels and urging companies to reduce emissions.

More