An Act concerning investments of the Massachusetts Pension Reserve Investment Management (PRIM)
Take action
Record your position on this measure.
Create an account to take a stance, submit a written position, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill addresses the investments managed by the Massachusetts Pension Reserve Investment Management (PRIM). It requires PRIM to divest from investments in fossil fuel companies and companies involved in the production of thermal coal. The bill also mandates PRIM to prioritize investments that align with environmental, social, and governance (ESG) factors. Specifically, PRIM must develop and implement a plan to transition away from these investments over a specified timeframe.
Key provisions
- PRIM must divest from fossil fuel companies.
- PRIM must divest from companies involved in thermal coal production.
- PRIM must prioritize ESG investments.
- PRIM is required to develop and implement a divestment plan.
- The divestment plan must outline a timeline for transitioning investments.
Who is affected
- Massachusetts Pension Reserve Investment Management (PRIM)
- Investors in the Massachusetts state pension fund
- Fossil fuel companies
- Thermal coal producers
- Environmental advocates
Notable changes
- Requires a shift in PRIM’s investment strategy to align with ESG principles.
- Specifies divestment from specific industries (fossil fuels and thermal coal).
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours