Ohio | Ropes & Gray LLP

State Regulations

Legislation/Guidance in Effect

Title

Key Dates

Nature of
Action

ESG Category

Summary

SB6: Regarding Certain Public Entities’ Governance Policies

Introduced
1/17/2023

Adopted
12/19/2024

Date Effective 03/20/2025

Legislation

Restrict Use of ESG Factors; Focus on Pecuniary Characteristics

■Prohibits the members boards of the public employees state retirement board systems and the boards of trustees of state higher education institutions from adopting ESG investment policies, taking any action to promote investment policies, or making investment decisions based on ESG factors with the primary purpose of influencing any social or environmental policy or attempting to influence the governance of any corporation.

Pending Legislation

Title	Key Dates	Nature of Action	ESG Category	Summary
HB4: An Act regarding certain economic boycotts, discrimination by businesses	Introduced in 2023, carried over to 2024	Legislation	Target Entities That Boycott Certain Industries	■ Provides that the 135th General Assembly (2023-2024) declares its intention to enact legislation regarding financial institutions and other businesses that conduct economic boycotts or discriminate against certain companies or customers based on certain factors. This legislation will deal with state contracts between governmental entities and financial institutions and companies, state pensions, retirement systems, boards of trustees for state universities and colleges, and the Bureau of Workers' Compensation. It will also deal with access to capital for numerous groups, industries, and consumers.

Past/Inactive Legislation

Title	Key Dates	Nature of Action	ESG Category	Summary
HB297: Enact Firearms Industry Nondiscrimination Act	Introduced, but did not pass in the 2021 legislative session	Legislation	Target Entities That Boycott Certain Industries	■ Prohibits Ohio public entities from entering into a contract with a company for the purchase of goods or services worth at least $100,000 and paid at least partly from public funds unless the company verifies in writing that it does not discriminate against firearm entities or trade associations and will not do so during the contract term. Applies to companies with 10+ full-time employees.