To align national priorities with national climate goals, Senate introduced Senate bill 11-53, to have COFA Trust Fund administration invest Section 211(f) Funds in climate transition investments, investments that are into low carbon economy such as “emerging technology and industries of renewable energy, energy efficiency, water, waste management, carbon capture…as well as other goals set forth in the UNSDGs.”

The bill finding states that this will “affect a transition of the Republic’s investments from companies that do harm to the environment to companies that promote reduced carbon emissions.”

Palau Social Security Administration recently invested $60 million of its equity into Climate Transition investments that “seeks long-term capital appreciation while also reducing carbon emission.”

The bill was introduced by ten Senators, Hokkons Baules, TJ Imrur Remengesau, Secilil Eldebechel, Andrew Tabelual, Jonathan Isechal, Kazuki Topps Sungino, Mark Rudimch, Mason Whipps, Stevenson Kuartei and Umiich Sengebau. (By: L.N. Reklai)

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