The Federal Retirement Thrift Investment Board (FRTIB) determines how to invest the retirement funds of the nation’s federal employees, including military service members, meaning it controls the largest defined contribution plan in the world. Since he has the ability to fill five seats on the board, Pres. Joe Biden has a chance to stack the body with nominees committed to making the retirement plan the largest pension fund in the world to divest from fossil fuels. The move would be a big climate win for the administration, since, as the old political adage goes, personnel is policy. But an early look at Biden’s board nominees suggests climate activists shouldn’t get their hopes up.
Find out about those nominees and much, much more in today’s Midday Poster below, exclusively for subscribers.