Budget Amendment ID: FY2022-S3-82

GOV 82

Responsible PRIM Investment

Mr. Feeney moved that the proposed new text be amended by inserting after section X the following section: -

"SECTION X. Section 23 of chapter 32 of the General Laws, as amended by section 14 of chapter 358 of the acts of 2020, is hereby amended by adding the following subdivision:-

(9)(a) The PRIM board shall develop and maintain a policy to quantify and evaluate the environmental, social and governmental risk of PRIT fund investments. Such policy shall incorporate environmental, social and governmental risk into the investment analysis and decision-making process, with the goal of mitigating any such risk and encouraging high standards of performance in the companies and other entities in which the PRIT fund invests.  Such policy shall include a requirement that investment managers and businesses disclose environmental, social, and governmental risk factors to the PRIM board, in compliance with said policy.

(b) The PRIM board shall annually, on or before January 15 of each year, file with the house and senate committee on ways and means and the joint committee on public service a report detailing its progress toward implementing the policies and goals outlined above."