Bill
Bill > S07240
NY S07240
NY S07240Prohibits the comptroller from using environment, social, and governance criteria as a screening method for selecting companies and funds to invest the state pension fund in.
summary
Introduced
04/07/2025
04/07/2025
In Committee
01/07/2026
01/07/2026
Crossed Over
Passed
Dead
Introduced Session
2025-2026 General Assembly
Bill Summary
AN ACT to amend the retirement and social security law, in relation to prohibiting the comptroller from using environment, social, and governance criteria when investing the state pension fund
AI Summary
This bill prohibits the state pension fund's trustees from using Environmental, Social, and Governance (ESG) criteria when selecting investments. ESG is an investment approach that considers a company's environmental impact, social responsibility, and corporate governance practices alongside traditional financial metrics. By adding a new provision to the retirement and social security law, the bill specifically bars trustees from using ESG factors as a screening method when choosing companies and investment funds for the state pension fund. The aim appears to be ensuring that investment decisions are based solely on financial performance and potential returns, rather than considering broader social or environmental considerations. The legislation would take effect immediately upon enactment, meaning the new restrictions on investment criteria would be implemented right away.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
REFERRED TO CIVIL SERVICE AND PENSIONS (on 01/07/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2025/S7240 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S07240&term=2025&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S07240 |
Loading...