Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.C.R. No. 13, S.D. 2, entitled:

begs leave to report as follows:

The purpose of this measure is to encourage the Employees' Retirement System to apply the principles of socially responsible investment in its investment practices and decisions.

In addition, this measure requests the Legislative Reference Bureau to conduct research on socially responsible investment-also known as double-bottom line investment, mission-related investment, and natural investing-by examining the laws and practices in other states, and current reports and studies in the field.

Testimony in support of this measure was received from the Hawaii Coalition Against Legalized Gambling, Responsible Markets, LLC, and numerous individuals.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee concurs with the intent and purpose of S.C.R. No. 13, S.D. 2, and recommends its adoption.