Florida treasury reviews investments' climate risk

Florida's treasury became the first to review climate risk associated with the state's investments, Chief Financial Officer Alex Sink said Wednesday.

RiskMetrics Group analyzed corporate bonds that represent about one-seventh of the state's $24-billion in treasury funds. Sink used a framework set up by the Investor Network on Climate Risk, a group if investors focussed on climate change issues. It examines how well investors take into account and plan for the risks associated with greenhouse gas regulation and climate change.

"Climate risks are converging not only on our state, but also on the investments we manage on behalf of our citizens," Sink said.