MN HF2075

State Board of Investment must prepare a report on the feasibility of divesting from companies involved in exploration, production, development, transportation, or sale of fossil fuels, with the goal of slowing climate change.

Report must include fiduciary duties and prudent person standards governing retirement fund investments, definitions of fossil fuel and renewable energy investments, and current exposure to fossil fuel investments.

Report must assess concerns and costs of divestment, identify climate change approaches available to public institutional investors, and examine alternatives to divestment including renewable energy investment and fossil fuel company engagement.

Report must review climate change policies used by other public pension plans, describe current climate change considerations in retirement fund investments, and develop metrics to assess divestment impacts.

State Board of Investment must deliver completed report to the Legislative Commission on Pensions and Retirement by February 1, 2020.