PRINTER'S NO. 4582
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE RESOLUTION
No.
1081
Session of
2020
INTRODUCED BY BRADFORD, OCTOBER 22, 2020
REFERRED TO COMMITTEE ON STATE GOVERNMENT, OCTOBER 22, 2020
A RESOLUTION
Urging the Public School Employees' Retirement System and the
State Employees' Retirement System to create and implement
socially responsible investing policies.
WHEREAS, Pennsylvania's pension systems have significant
financial assets in markets and investments around the world;
and
WHEREAS, Pennsylvania has a history of creating investment
policies that consider all merits of an investment, including
prohibiting investments in nations such as Iran and Sudan; and
WHEREAS, Evidence exists that investment products which
account for environmental, social and governance (ESG) factors
provide superior long-term returns; and
WHEREAS, ESG factors can have a material impact on the value
of companies, securities and other investments; and
WHEREAS, Many pension funds and institutional investors have
adopted ESG policies as a component of their investment
selection process; and
WHEREAS, The beneficiaries of the Public School Employees'
Retirement System and the State Employees' Retirement System
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would be well served to have ESG factors considered for
investments by the pension systems; therefore be it
RESOLVED, That the House of Representatives urge the Public
School Employees' Retirement System and the State Employees'
Retirement System to create and implement socially responsible
investing policies; and be it further
RESOLVED, That these policies should take into account ESG
factors and how they relate to the risks and returns of various
investments; and be it further
RESOLVED, That ESG factors should be considered, but not
supersede, the responsibility of Pennsylvania's pension systems
to make financially prudent investments.
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