Bill > HCR170

This Concurrent Resolution urges the Employees' Retirement System (ERS), which manages retirement funds for state employees, to work with an experienced investment consulting firm to study the financial impact of its investments in fossil fuels, which are sources of energy like coal, oil, and natural gas. The resolution highlights Hawaii's commitment to sustainability and renewable energy, noting the risks associated with global warming and the potential financial instability of fossil fuel companies due to international climate agreements and market trends. The ERS is asked to report its findings on the past one, three, and five years of fossil fuel investments, including any losses or gains, and to compare this to a scenario where those investments were placed in other sectors, with the report to be submitted to the Legislature before the 2017 session.