In accordance with the fiduciary responsibilities as described in Subtitle 2 of this title, when managing the assets of the several systems, a fiduciary shall consider the potential systemic risks of the impact of climate change on the assets of the several systems, including monitoring net–zero aligned investments and climate solutions to ensure a path to a long–term sustainable portfolio. The climate risk assessment required under § 21–116 of this subtitle shall include: a review of the total investment portfolio of the several systems to determine the level of climate risk across industry sectors and asset classes that prioritize high–impact sectors responsible for greenhouse gas emissions; identifying investment opportunities in: emerging technologies in renewable energy; and transitioning, reducing, and eliminating carbon–emitting technology; establishing a process for regular reassessment of the potential systemic risks of the impact of climate change on the assets of the several systems; and utilization of the best data and practices available in current science, investment strategies, and climate risk analyses. Based on the information obtained in accordance with subsection (b) of this section, the Chief Investment Officer, subject to the policies adopted by the Board of Trustees: shall review and manage the investments of the several systems; and may choose to invest or divest in funds within the several systems. The Chief Investment Officer shall: identify environmentally sustainable investment opportunities to support a low–carbon economy; develop transition assessments relating to investments in high–impact sectors; evaluate whether internal and external investment managers are taking steps to transition to a more sustainable business model aligned with a low–carbon economy; and work with managers, data providers, index providers, or consultants to identify, analyze, define, and prioritize asset–class specific metrics and minimum standards to evaluate transition readiness and resiliency for companies in high–impact sectors. The policies of the Board of Trustees shall address and mitigate climate risk in the investment of system assets through: direct engagement with managers, brokers, or other entities; proxy voting; a periodic review and assessment of the effectiveness of procedures used for direct engagement and proxy voting; and to the extent practicable, the establishment of an advisory panel of experts in the analysis of climate change risk to provide the most current science and data available. Any action taken in accordance with this section shall be included in the risk assessment report required under § 21–116 of this subtitle. The Board of Trustees, or any other fiduciary of the several systems as defined in § 21–201(b) of this title, may not be held liable for any actions taken or decisions made in good faith for the purpose of complying with or executing this section. Nothing in this section shall require the Board of Trustees, or any other fiduciary of the several systems as defined in § 21–201(b) of this title, to take action as described in this section unless the Board of Trustees or other fiduciary determines, in good faith, that the action is consistent with the fiduciary responsibilities of the Board of Trustees as described in Subtitle 2 of this title.