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File #: 22-263    Version: 1 Name:
Type: Resolution Status: Passed
File created: 3/23/2022 Departments: TREASURER
On agenda: 4/19/2022 Final action: 4/19/2022
Title: Adopt a resolution approving the amended 2022 San Mateo County Investment Policy Statement.
Attachments: 1. 20220419_r_Investment Policy, 2. 20220419_att_Investment Policy
Special Notice / Hearing: None
Vote Required: Majority

To: Honorable Board of Supervisors
From: Sandie Arnott, Treasurer-Tax Collector
Subject: Approving the Amended 2022 San Mateo County Investment Policy Statement

Adopt a resolution approving the amended 2022 San Mateo County Investment Policy Statement.

Pursuant to Government Code ? 53646, the Treasurer may annually render to the Board of Supervisors and any Oversight Committee a statement of investment policy, which the Board shall review and approve at a public meeting. The Treasurer has amended the Investment Policy Statement that was preliminarily approved by the Board of Supervisors on January 11, 2022, pending incorporation of a statement regarding environmental, social, and governance (ESG) principles.

The amended 2022 Investment Policy now includes, under Investment Objectives, a specific discussion of Socially Responsible Investment Objectives that specifically incorporates ESG principles and which reads as follows:

V. Investment Objectives
D. Socially Responsible Investment Objectives (pg. 3)
In addition to and while complying with California Government Code provisions that regulate the investment of public funds (which require that, when managing and investing public funds, the objectives shall be, primarily, to safeguard principal of invested funds; secondarily, to meet the liquidity needs of the local government; and third, to achieve a return on invested funds), the County Treasurer recognizes the importance of socially responsible investing. The Treasurer will consider and promote investment in authorized issuers that display adherence to strong environmental, social and governance (ESG) principles, including but not limited to, environmental sustainability, social and economic justice, and good corporate governance. The Treasurer will forego investments in fossil fuel issuers if able to do so while complying with all legal an...

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