Prevents New York's common retirement fund from investing in companies mining cobalt and lithium for battery production if they can't prove ethical.

The bill, known as the "cobalt and lithium mining and production divestment act," prohibits the New York common retirement fund from investing in companies involved in cobalt and lithium mining or production for battery manufacturing if these companies cannot demonstrate through independent monitoring that they do not use child labor and that their workers are employed under conditions meeting international standards. The bill also mandates the creation of an exclusion list of such companies and requires annual reports on divestment progress.

Prevents New York's common retirement fund from investing in companies mining cobalt and lithium for battery production if they can't prove ethical.

The bill, known as the "cobalt and lithium mining and production divestment act," prohibits the New York common retirement fund from investing in companies involved in cobalt and lithium mining or production for battery manufacturing if these companies cannot demonstrate through independent monitoring that they do not use child labor and that their workers are employed under conditions meeting international standards. The bill also mandates the creation of an exclusion list of such companies and requires annual reports on divestment progress.