Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
State Investment Board: $230 billion under management, climate work evaluated through fiduciary lens
Summary
State Investment Board staff briefed the pension select committee on governance, asset allocation and historic returns, saying the board’s duty is to maximize returns ‘at a prudent level of risk’ while assessing climate and ESG impacts through financial analysis.
David Schumacher, a State Investment Board official, told the Select Committee on Pension Policy that the board’s structure and process are shaped by fiduciary obligations and long‑term horizons. He said the board ‘shall establish investment policies and procedures designed exclusively to maximize return at a prudent level of risk,’ and described the SIB’s membership and oversight model.
Schumacher told members the board and its nonvoting expert advisors oversee roughly $230,000,000,000 in assets, with the overwhelming majority — about 87% —…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
