Funds Policy: New Mexico Investment Council May Consider ESG and Sustainability Factors in Fund Management

August 20, 2021

Summary

New Mexico's Permanent Funds Environmental, Social, and Governance Policy, approved by the New Mexico State Investment Council in August 2021, empowers the Council to consider ESG factors when investing and managing the New Mexico Permanent Funds. The Council may consider a fund's environmental stewardship, including how it contributes to energy efficiency, waste management, climate change, sustainability, and other environmental risks.

The Council also may consider social criteria, including how a fund or its investments handle employee and business relationships, philanthropy, labor standards, and diversity, equity, and inclusion (DEI) actions. The Council may consider governance criteria, including how the fund or its investments handle "leadership, compensation, audits/audit committee structure, internal controls and investor rights." The ESG Policy is subject to the Council's fiduciary duty.

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