For workers or pension systems trying to keep support for the fossil-fuel industry to a minimum, one expert has some suggestions.
Just last month, Maryland State Retirement and Pension System officials voted to create a climate advisory panel. The panel will be tasked with advising the pension system on how to consider climate risks in investments.
For those who are just starting to invest for retirement, Jessye Waxman - campaign advisor on Sierra Club's fossil-free finance team - said fossil-fuel stocks aren't the most profitable or stable option.
"The fossil-fuel industry has been pretty volatile in terms of the kinds of returns it's looking at," said Waxman. "Holding fossil fuels is actually a more risky proposition. They're creating a lot of instability and not optimizing for portfolio returns."
A study of Maryland's pension portfolio agreed. It found the stocks in oil and gas companies in Maryland's pension system were falling behind.
The study found the portfolio would have grown an additional 10% if the pension system had divested in 2010.
For those current shareholders, Waxman said to hold investments and use voting power to keep companies accountable on climate issues.
That includes denying debt, which involves not buying new bonds for fossil-fuel companies. That, she said, makes it more difficult for fossil-fuel companies to operate - or expand operations.
"If you are a shareholder," said Waxman, "hold the stocks that you have, and use that to leverage your power as a shareholder to hold companies and their boards accountable for their greenhouse-gas emissions, for decarbonization efforts."
A Sierra Club report found that bonds are a growing share of financing for fossil-fuel company projects, such as new pipelines and coal power plants.
In 2000, bonds accounted for 14% of fossil-fuel financing, compared with 52% in 2020.
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The Trump administration has started dismantling the Environmental Protection Agency's office dealing with reducing environmental harms to minority and low-income communities who have faced the brunt of climate change and pollution.
More than 160 staffers in the EPA's Office of Environmental Justice and Civil Rights were put on paid administrative leave last week. More than 200 staffers work for the office, which was combined with two others in 2022.
Adrienne Hollis, vice president of environmental justice, health and community resilience and revitalization for the National Wildlife Federation, said the EPA department is just like any other office dealing with environmental protection. A specific environmental effort, she said, needs a specific office to coordinate efforts.
"Some communities may file a complaint about the fact that, given the contamination they're exposed to, there may be issues that violate the civil rights act," Hollis pointed out. "Just as the air group, you need a focal point: a place to go, a place to get information and share information."
The office was first created by former President George H.W. Bush in 1992. Since 2014, the Environmental Protection Agency has conducted more than 300 reviews of civil rights compliance, including 11 in Maryland.
On his first day in office, President Donald Trump signed an executive order working to disband environmental justice offices across the federal government. The administration has also taken down a decades-old tool to track environmental burdens across the country.
Hollis noted some of the state's most vulnerable communities will be the most negatively affected by the major rollbacks and potential shutterings.
"It's going to affect the ability of communities and advocates and activists to really focus on these specific environmental outcomes that are related to systemic racism," Hollis emphasized. "They're place-based, they're based on race, and they're exacerbated by climate change."
The administration has also paused all environmental litigation in the Justice Department. The administration has said it is following through on promises Trump made during the presidential campaign to whittle down the size of the federal government.
Disclosure: The National Wildlife Federation contributes to our fund for reporting on Climate Change/Air Quality, Endangered Species and Wildlife, Energy Policy, and Water. If you would like to help support news in the public interest,
click here.
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The Trump administration has begun to dismantle the Environmental Protection Agency's office dealing with reducing environmental harms to minority and low-income communities who have faced the brunt of climate change and pollution.
More than 160 staffers in the EPA's Office of Environmental Justice and Civil Rights were put on paid administrative leave last week. Combined with two other offices in 2022, more than 200 staffers work for the office.
Adrienne Hollis, vice president of environmental justice, health and community resilience and revitalization for the National Wildlife Federation, said the office has an important role in making sure environmental health efforts are distributed equitably.
"The Office of Environmental Justice and Civil Rights focuses on issues that affect communities and groups of people that are disproportionately impacted by environmental issues, or disproportionately impacted when rules and regulations are not followed," Hollis explained. "Or even when there are issues around site cleanup."
The office was first created by former President George H.W. Bush in 1992. Since 2014, the Environmental Protection Agency has conducted more than 300 reviews of civil rights compliance, including eight in the Commonwealth.
On his first day in office, President Donald Trump signed an executive order working to disband environmental justice offices across the federal government. The administration has taken down a decades-old tool to track environmental burdens across the country.
Hollis noted some of the Commonwealth's most vulnerable communities will be the most negatively affected by these major rollbacks - and potential shutterings.
"It's going to affect the ability of communities and advocates and activists to really focus on these specific environmental outcomes that are related to systemic racism," Hollis emphasized. "They're place-based, they're based on race, and they're exacerbated by climate change."
The administration has begun to break up the Department of Justice's Environment and Natural Resources Division. The cuts are part of the government cuts Trump promised during his campaign.
Disclosure: The National Wildlife Federation contributes to our fund for reporting on Climate Change/Air Quality, Endangered Species and Wildlife, Energy Policy, and Water. If you would like to help support news in the public interest,
click here.
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Black communities affected by industrial pollution in South Philadelphia are among those watching a Trump administration rollback of health protections. They say they'll continue calls for the state to address the problems.
President Donald Trump has eliminated the "Justice40" initiative, which was intended to ensure the federal government helps communities located near heavy industry, ports and roadways.
Debbie Robinson, a member of the group Philly Thrive, said they've been working for years to end environmental injustice in their area.
"We want clean air. We want the older people to be able to come outside, sit on their steps and breathe fresh air," she said. "We're doing a lot of stuff, a heap of stuff, trying to make it better."
In the Biden administration, the Environmental Protection Agency made environmental justice a priority, working to improve health conditions in heavily polluted, often minority or low-income communities.
Robinson said she and others have experienced poor air pollution along with extreme flooding. She fought to get a local refinery closed after a 2019 explosion, but said pollution persists, including benzene leaks from a nearby terminal. Philly Thrive is pushing for accountability and transparency as the 1,300-acre site is redeveloped.
"We've been trying for four years to talk to them about a benefits agreement, and they haven't given us a benefits agreement, and they be shutting us down," she said. "It's not good at all. You know, I'm on oxygen; a lot of people have passed away from that refinery, from the chemicals."
She said Philadelphia residents blame the former oil refinery for high asthma and cancer rates. While the HRP Group developing the site reached agreements with 16 community groups on environmental and economic plans, Robinson said Philly Thrive was not included.
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