HB 481: Georgia Restricts Public Entities from Consideration of ESG Interests in Public Investments
Summary
HB 481 was enacted in May 2024 and took effect on July 1, 2024. It requires fiduciaries of retirement systems to discharge their duties "solely in the interests of plan participants and their beneficiaries" and "for the exclusive purpose of providing benefits to plan participants and their beneficiaries." Under the law, fiduciaries may not "subordinate the interests of the participants and their beneficiaries or sacrifice investment returns or accept increased investment risks in the promotion of any nonpecuniary interests." Nonpecuniary interests include "the furtherance of any social, political, or ideological interests."
Impacted Sectors
Additional Information
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