2024 Upcoming Elections
Legislation/Guidance in Effect
Title |
Key Dates |
Nature of |
ESG Category |
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Effective date |
Legislation |
Restrict Use of ESG Factors; Focus on Pecuniary Characteristics |
■Except as otherwise provided in a state investment policy relating to the investment of the legacy fund and unless the state investment board can demonstrate a social investment would provide an equivalent or superior rate of return compared to a similar investment that is not a social investment and has a similar time horizon and risk, the state investment board may not invest state funds for the purpose of social investment. |
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Legislation |
Restrict Use of ESG Factors; Focus on Pecuniary Characteristics |
■Urges the federal government to refrain from enacting regulations that threaten the reliability and affordability of electric power in North Dakota and to increase support for research, development, and deployment for next generation carbon-based energy generation. |
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Legislation |
Restrict Use of ESG Factors; Focus on Pecuniary Characteristics |
■Applies to the State Investment Board. |
Past/Inactive Legislation
Title |
Key Dates |
Nature of |
ESG Category |
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Introduced, but did not pass in the 2023 legislative session |
Legislation |
Restrict Use of ESG Factors; Focus on Pecuniary Characteristics |
■Requires a state plan fiduciary to consider pecuniary factors when evaluating an investment or discharging its duties with respect to a plan. Prohibits consideration of nonpecuniary factors by fiduciaries when evaluating an investment or discharging its duties with respect to a plan. Defines “nonpecuniary factors” as any factor intended to further or promote a political, social, or other nontraditional goal or standard without regard to the investment objectives and funding policy of a plan. |
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HB1278: Requiring Support of State Fossil Fuel and Agriculture Industries |
Introduced, but did not pass in the 2023 legislative session |
Legislation |
Target Entities That Boycott Certain Industries |
■Prohibits any designated agent acting as a custodian of securities purchased on behalf of funds managed by the State Investment Board from being a member of any association that has not publicly supported North Dakota’s fossil fuel and agriculture industries. |