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Biden Climate Edict Could Spell End for TSP Fossil Fuel Investments


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Biden Climate Edict Could Spell End for TSP Fossil Fuel Investments
The president’s executive order aimed at incorporating “climate-related financial risk” into federal budgeting also instructs officials to review how the Thrift Savings Plan considers risks from climate change in its decision-making.
President Biden’s recent executive order aimed at ensuring federal agencies consider the risks of climate change in their budgeting and making the American economy carbon-neutral by 2050 also has the potential to impact how federal employees save for retirement.
The edict instructs the secretary of Labor to identify actions “to protect” federal employee pensions from “the threats of climate-related financial risk.” And it requires an assessment within 180 days of how the Federal Retirement Thrift Investment Board, which administers the Thrift Savings Plan, “has taken environmental, social and government ....

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