A bill has been introduced in the Idaho Senate establishing ESG investments as disfavored investments that cannot override the state's prudent investor rule.
The bill, SB 1405, says no public entity in the state that engages in any kind of investment activities "shall consider environmental, social or governance characteristics in a manner that could override the prudent investor rule."
The bill, which creates a new section called "disfavored state investments" in the Idaho state code also says that any public entity serving as a fiduciary can offer ESG investments, but not without "required and sufficient alternatives."
Idaho Sen. Steve Vick, sponsor of the bill, could not be immediately reached for further information.
Bob Maynard, chief investment officer for the $22.5 billion Idaho Public Employee Retirement System, Boise, declined to comment.
