relative to environmental, social, and governance-related investment strategies by the state retirement system.

HB 1585 requires New Hampshire's state and local public retirement systems to prioritize only financial factors when making investment decisions, excluding environmental, social, or political considerations. The bill directly affects retirement systems managing state pension funds, mandating that fiduciaries (like investment managers) act solely in the financial interest of participants and beneficiaries. Key provisions prohibit considering factors such as climate policies (e.g., restricting fossil fuel investments), diversity criteria, abortion access, or firearm industry engagement when managing assets. The law explicitly states that investment decisions must not be influenced by "environmental, social, political, or ideological interests," even if tied to corporate practices. This shifts focus entirely to financial returns and risk, eliminating ESG (Environmental, Social, Governance) criteria from retirement fund strategies.