Bill > HB2662

This bill mandates that the Washington State Investment Board (WSIB), which manages public funds, incorporate "responsible investment principles" into its investment decision-making process, alongside its existing duty to maximize returns at a prudent level of risk. These principles include avoiding investments that contribute to serious human rights violations, involvement in certain weapons sales, operating or contracting with public or for-profit prisons or immigration detention centers, gross environmental degradation, unacceptable greenhouse gas emissions that conflict with state climate goals, recreational tobacco production, coal production or power generation where a company derives a significant portion of its revenue from it, gross corruption, serious financial crimes, or restraint of trade. The WSIB must assess the probability and severity of future violations when deciding to invest or exclude a company, and develop proxy voting guidelines that recognize these principles as business and systemic risks, using its ownership authority to mitigate them. Furthermore, the WSIB will be required to annually report on how it is incorporating these principles, including its process for identifying problematic investments and the actions it has taken to manage associated risks.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=2662&Year=2025&Initiative=false