An Act to align public pensions with Massachusetts’ net zero future
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to ensure that Massachusetts’ public pension systems are aligned with the state’s goals of reducing greenhouse gas emissions and achieving a net-zero future. It directs the state’s pension management to consider climate risks and opportunities when making investment decisions. The legislation seeks to incorporate environmental sustainability into the long-term financial planning of public pension funds, promoting investments that support a transition to clean energy and reducing the pension funds’ exposure to climate-related risks.
Key provisions
- Requires public pension funds to assess and incorporate climate-related risks into their investment strategies.
- Directs pension funds to prioritize investments that support the transition to a net-zero economy.
- Encourages pension funds to divest from fossil fuel investments.
- Mandates the creation of a report on the state of climate risk integration within public pensions.
Who is affected
- Massachusetts public pension funds
- State government employees and retirees
- Investors in public pension funds
- The Commonwealth of Massachusetts
Notable changes
- Introduces a framework for integrating climate considerations into public pension investment decisions.
- Potentially shifts investments away from fossil fuels towards renewable energy and sustainable projects.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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