H.F. No. 4790 - Minnesota Sustainable Investing Act

• Legislature establishes findings that sustainability factors including corporate governance, environmental, social, and human capital factors are vital for evaluating investment risk and maximizing public fund performance.

• State Board of Investment must develop and implement a sustainable investment policy by a deadline to be specified, which may be incorporated into existing investment policies.

• State Board must prudently consider sustainability factors in investment decision-making by a deadline to be specified, including factors related to corporate governance, environmental impact, social equity, and human capital/labor practices.

• State Board must require investment managers to disclose how they consider sustainability factors before entering contracts and annually thereafter, with disclosures publicly available within 30 days of receipt.

• State Board must complete climate risk assessments by January 1, 2025, develop proxy voting guidelines recognizing climate change as a business risk by a deadline to be specified, and identify sustainable investment opportunities supporting a low-carbon economy.