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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While the municipal market barely budged following the Fed's decision to cut rates 50 basis points, Thursday saw muni yields rise up to two basis points, depending on the scale, but still lagged the weakness in USTs. LSEG Lipper reported $716 million of inflows into municipal bond mutual funds.
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The Fed's 50 basis point cut surprised many, as a looming federal election and all the uncertainty that brings complicates efforts at forecasting.
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The product is designed to give SOLVE's customers visibility into "next-trade" pricing data for more than 900,000 munis.
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After getting positive outlooks from three rating agencies since 2023, Oklahoma received its first upgrade.
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The agency cited a sustained commitment to healthy reserves and structural balance.
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The plan involves building modern infrastructure and streamlining government operations and delivery of services.
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