To help Florida financially prepare for the threat of climate change, chief financial officer Alex Sink announced earlier this month that she is requiring new disclosure requirements for the state’s treasury investment managers. Sink said she urged the Securities and Exchange Commission in September to require that public companies assess and disclose their financial risks from climate change. She has since directed treasury investment managers to detail their abilities to assess climate risk.“While some investment managers have begun planning for the potential impacts of climate risk in their portfolios, other managers have more work to do and need guidance on how to assess potential climate-related financial risks when making investment decisions,” Sink said. “Investment managers will be required to report on climate risk as a part of their semiannual reviews.”Sink also said she intends to explore the creation of a clean energy fund in Florida after hearing a presentation from the Clean Energy States Alliance. The alliance consists of 18 states that have created clean energy funds to invest in renewable clean energy resources, such as solar, wind, and biomass. Some states have used, or are considering using, bond financing to support their clean energy funds.Sink said she planned to work with the Clean Energy States Alliance to explore the different funds used around the country and determine if there is a model suitable for Florida.
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