HB 1212: Maryland Creates Director of DEI in State Retirement Agency
Summary
HB 1212 was enacted in May 2024 and became effective on July 1, 2024. It establishes a Director of Diversity, Equity, and Inclusion (DEI) of the State Retirement Agency. It requires the Director of DEI to "identify and minimize certain barriers to ensure access and opportunities for underrepresented groups."
The Director should develop standards and policies to implement the governance program, monitor risks of material ESG factors in asset investment, work across asset classes to integrate ESG factors into investment due diligence and recommendations, provide recommendations based on ESG factors, evaluate whether investment managers represent diverse backgrounds, and work with investment teams to prioritize an inclusive environment.
Impacted Sectors
Additional Information
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