Michigan HB5237 prohibits investments in environmental, social, and governance funds.
Michigan HB5237 amends the investment rules for retirement systems to prohibit investments in environmental, social, and governance funds. The bill specifies that investment fiduciaries must consider only pecuniary factors when evaluating investments and avoid those that further social, political, or ideological objectives. It also mandates clear accountability and reporting requirements for the system's investment fiduciaries.
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