Bill > H2372

This bill establishes a special commission to study the feasibility of removing investments in fossil fuel companies from the Commonwealth's pension systems, specifically the Pension Reserves Investment Trust (PRIT) which manages funds for state and local employees and teachers. The commission, composed of 11 members including legislative leaders, state officials, and representatives from retiree associations and the public, will examine the potential environmental benefits of divestment against the financial risks to pension funds and retirees. It will also analyze the impact on the fossil fuel industry, potential exceptions for indirect investments like mutual funds, and the effects on companies and employees within the Commonwealth, ultimately recommending which fossil fuel companies should be divested from and whether an "escape clause" is needed if investment losses exceed a certain threshold, with a report due by December 31, 2015.