Legislation/Guidance in Effect
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Title |
Key Dates |
Nature of |
ESG Category |
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|
Adopted and in effect |
Treasurer Position |
Promote Divestment from Certain Industries |
■ Applies to the Connecticut Retirement Plans and Trust Funds. |
Past/Inactive Legislation
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Title |
Key Dates |
Nature of |
ESG Category |
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|
|
Introduced, but did not pass in the 2023 legislative session |
Legislation |
Promote Divestment from Certain Industries |
■ Previously, proposed HB6397 required the state treasurer to divest by October 1, 2023, all public funds from the stocks and securities of companies that derived more than 10% of their revenue from the sale of fossil fuels.
SUBSEQUENT DEVELOPMENTS According to the Committee Report, State Treasurer Erick Russell submitted testimony in opposition to the bill. "Climate and its impact on the planet are most consequential. . . I am committed to utilizing every tool to reach our shared goals but rushing this decision runs counter to my role as sole fiduciary of the State's pension and trust funds." Hence, the language concerning the State Treasurer was removed from the amended HB6397. |
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HB6348: An Act Concerning The Divestment Of State Funds From Fossil Fuel Corporations |
Introduced, but did not pass in the 2023 legislative session |
Legislation |
Promote Divestment from Certain Industries |
■ Authorizes the state treasurer to divest and decide not to further invest state funds in any corporation or other entity that extracts, transports, trades, or otherwise contributes to the production of coal, oil, and gas. |
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Introduced, but did not pass in the 2023 legislative session |
Legislation |
Promote ESG Factors in Investment and/or Proxy Voting Decisions |
■ Requires the state treasurer to issue an annual report scoring companies and detailing any failure of companies in which state pension funds are invested to comply with Connecticut’s climate sustainability goals. |
