MN HF2329

State Board of Investment must prepare a report on stability and security of fossil fuel investments held by public pension and retirement funds, with delivery required by February 1, 2020.

Report must assess financial risks of continued investment in fossil fuel companies generally, and specifically coal mining and production companies.

Report shall include definitions of fossil fuel and renewable energy investments, fiduciary duties and prudent person standards, existing climate change research from other public pension funds, and current climate change policies.

Report must identify available alternatives to fossil fuel investments including renewable energy companies, metrics to assess carbon exposure of individual companies, and improvements to proxy guidelines regarding environmental policies.

Report must identify resources needed by State Board of Investment to acquire knowledge on climate change risk and related investment alternatives, with delivery to the Legislative Commission on Pensions and Retirement.