HI SB3085

Requires state entities managing endowment funds, retirement system funds, trust funds, and other investment funds to develop and publish socially responsible investment policies considering environmental, social, and governance factors.

Mandates consideration of five categories of sustainability factors: corporate governance and leadership, environmental factors, social capital, human capital, and business model and innovation factors in investment decision-making and portfolio management.

Requires entities to file their socially responsible investment policies with the Department of Budget and Finance and the legislature within 30 days of adoption, and notify of any subsequent policy changes within 30 days.

Requires entities to publish annual investment reports summarizing the proportion of investments made in accordance with socially responsible investment policies.

Effective date of January 1, 2050.