Previously, we wrote about a shocking attempt by a New Hampshire lawmaker to criminalize the consideration of ESG factors in state investments. However, as I predicted, the political will to pass such an extreme law appears to be lacking in the state. Don’t give me too much credit – you didn’t have to be Nostradamus to figure that one out. An article from Pensions & Investments covers the most recent developments stating that:
“A New Hampshire House of Representatives committee voted unanimously Jan. 30 to oppose a bill that would designate as a felony to knowingly invest using ESG principles by state and New Hampshire Retirement System officials.”
In this instance, the committee can only vote to recommend bills to the House, and a failure to recommend doesn’t officially kill the legislation. However, it doesn’t bode well for the bill’s odds on the house floor and it is unlikely that the bill will succeed given this vote and the opposition posed by the pension systems board of trustees. For now, we can breathe easier knowing that the bill doesn’t appear to be going anywhere.
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