Our new MA pension bill paves the way toward funding long-term climate security
Yes, public pensions are a public good.
Also, they are not instrumentalities of electoral politics.
They are social structures for social decision making through finance that have a duty to sustainability, and accountability through the laws of fiduciary prudence and loyalty to the common sense of reasonable people.
They are a new 21st Century Global Commons, in which we all have a say, as new 21st Century Global Citizens.
Common sense tells us that "maximizing financial returns" is the sales pitch of an Asset Manager. Not the legal standard of fiduciary duty to sustain The Pension Promise.
Common sense also tells us that public pensions owe their loyalty to their pension purpose, of being there now and later, across the generations of workers and retirees, all equally; NOT to the vested interests of special interests. Like fossil fuels.
Because pensions owe a duty to the future, and not to fossil fuels, that is what gives them the power to become our Heroes of Climate Action!