Bill > A06391

This bill establishes the "Cobalt and Lithium Mining and Production Divestment Act," which prohibits the New York State Common Retirement Fund from investing in stocks, securities, or other financial obligations of companies involved in cobalt and lithium mining for electric vehicle and large-scale battery storage production, unless those companies can demonstrate through independent monitoring that their operations do not involve child labor and that adult workers are employed under acceptable international labor standards. The bill requires the state comptroller to create a public exclusion list of cobalt and lithium producers within six months, detailing investments that violate these guidelines. The comptroller must also file reports with the legislature documenting non-compliant investments and progress towards divestment, with a three-year timeline to sell, redeem, or withdraw problematic investments. The legislation aims to ensure ethical labor practices in the mining operations supporting emerging green technology sectors by using the state's investment power as a mechanism for promoting better working conditions, with careful provisions to prevent imprudent or premature investment changes.

Labor and Employment

https://www.nysenate.gov/legislation/bills/2025/A6391