HB1845

House Bill 1845 amends existing Arkansas law regarding the regulation of Environmental, Social Justice, and Governance (ESG) scores for financial services providers. The bill modifies the oversight process by transferring certain responsibilities from the Treasurer of State to the ESG Oversight Committee regarding the creation of lists of financial services providers. It clarifies the types of information the Committee may use when evaluating providers, including public statements by executives, government reports, and provider certifications regarding non-discrimination against energy, fossil fuel, firearms, or ammunition industries. Additionally, the bill provides an exemption from mandatory divestment requirements if an investment is locked into a maturity date where early divestment would cause a financial penalty or negative fiscal impact to the state. The primary purpose is to refine the administrative procedures and fiduciary safeguards related to the state's ESG investment policies.