Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pension Divestment Firearms topic
No spam. Unsubscribe anytime.
Advocates urge pension divestment from firearms and ammunition companies
Summary
A Beverly resident urged the Joint Committee on Public Service to favorably report H.49, calling for public pension funds to divest from firearms and ammunition manufacturers on financial and ethical grounds.
A member of the public urged the Joint Committee on Public Service to favorably report House Bill 49, which would require public pension funds to divest from firearms and ammunition manufacturers.
Matthew Nugent of Beverly said the bill is a form of “responsible investing” and argued that avoiding investments tied to firearms companies reduces legal and reputational risk for public pension funds while aligning investments with public interest. “Sound financial management demands that the state prudently avoid risky investments associated with recent court cases involving controversial corporate gun manufacturers,” Nugent said, citing precedents in Connecticut, Rhode Island, Nevada, and New York.
Nugent framed divestment as both a moral and financial action, citing national statistics and the state treasurer’s sponsorship of H.49. No committee action on H.49 was recorded in the provided transcript.
