; (3) produce a comparative analysis comparing the fiduciary efficacy and responsibility of existing investment practices of the Board with the investment strategies described in paragraph (1); and (4) advise the Board on how to identify, assess, and manage the investment risks and opportunities of climate change and prepare for a transition to a low-carbon economy. (d) Examination (1) In general In carrying out the duties of the Advisory Panel under subsection (c), the Advisory Panel shall examine the following: (A) Economic and policy challenges facing the fossil fuel industry over the short, medium, and long term. (B) Quantitative and qualitative analysis and modeling of the economic impact of climate change on Federal employee retirement programs, including diversification of investments, risk tolerance, future economic and workforce trends, new opportunities, expected losses, and returns. (C) The current state of, and outlook for, low- and zero-carbon investment opportunities. (D) The experiences, including performance analyses, of other pension funds and investors that have undertaken concerted strategic efforts to divest from fossil fuel holdings in order to maximize the efficacy and stability of their assets while minimizing their climate-related risk exposure. (E) Strategic options to address climate-related investment risks through further efforts to divest from fossil fuel holdings, including— (i) transitioning to a low-carbon or carbon-free benchmark index for all public equities; (ii) divesting from significant fossil fuel holdings that are not responsible fiduciary investments for beneficiaries