Advocates press lawmakers to divest state pensions from companies tied to weapons of mass destruction

A broad coalition of activists, union members, health professionals and municipal advocates testified in favor of H.1264 / S.767, which would direct the state’s pension managers to review holdings and divest equity in companies involved with weapons of mass destruction (WMDs). Speakers included members of Mass Peace Action, coalition organizers, physicians and municipal pension contributors who said PRIM holds billions with ties to WMD manufacturers.

Witnesses presented portfolio data and alleged exposures: one analyst reported more than $17 billion identified as investments in entities with WMD connections; others cited municipal precedents and moral arguments. Health professionals described medical and psychological harms associated with weapons and war and framed divestment as consistent with fiduciary and public‑health duties. Union delegates and municipal pension contributors argued divestment would align investments with state values and mitigate reputational and geopolitical risk.

Supporters pointed to local divestment actions and urged PRIM to adopt clearer ESG screens. Committee members asked for details on how divestment would affect portfolio returns and requested staff follow‑up on the current portfolio composition and definitions of WMD exposure. No final action was taken; sponsors were asked to provide more detailed portfolio mapping and economic impact analysis.

Outcome: Committee requested additional information from sponsors and witnesses about portfolio exposures, legal pathways for divestment, and potential fiscal impacts before considering advancement.