Responsible Gun Policy
The costs and risks associated with gun violence are urgent. In Connecticut alone, the cost of gun violence averages $1.2 billion a year and claims about 180 lives annually. As the chief elected financial officer and fiduciary for the State of Connecticut, the State Treasurer is uniquely positioned to help mitigate the social and economic impact of gun violence through the financial relationships and business operations of the Office.
The Treasurer’s Responsible Gun Policy is a framework for guiding sound financial decisions and responsible corporate behavior on guns. In addition to encouraging companies to adopt safe gun practices, the Responsible Gun Policy informs and guides the State Treasurer’s work related to investments, borrowing and banking transactions.
The policy includes three core components:
- Divestment - Prohibits the investment of the state’s pension funds in public securities of “civilian firearms manufacturing companies” with flexibility to invest in gun safe technologies.
- Disclosure - Requests banks and financial institutions that wish to work with the Office of the Treasurer to disclose their policies on guns.
- Decision-making - Weighs a financial institution’s gun policy as one factor, among many, when the Office of the Treasurer contracts banking and financial services.
-- December 2019