House Bill 750 Summary

• Prohibits state agencies, political subdivisions, and state pension plan fiduciaries from using Environmental, Social, and Governance (ESG) or Economically Targeted Investment (ETI) criteria in hiring, firing, or evaluating employees.

• Prohibits consideration of ESG or ETI criteria in the awarding of state contracts, except as allowed by law.

• Restricts the State Treasurer to considering only pecuniary factors (those with material effect on financial risk or return) when investing and managing state pension funds.

• Allows environmental or social considerations in pension fund investments only if they present economic risks or opportunities that qualified investment professionals would treat as material economic considerations.

• Became law on June 27, 2023, notwithstanding Governor Roy Cooper's veto.