NOTICE: Treasurer Wooden Announces Historic Gun Policy for Investments & Financial Business - Responsible Gun Policy

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:

  1. 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.
  2. DisclosureRequests banks and financial institutions that wish to work with the Office of the Treasurer to disclose their policies on guns.
  3. 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.

More Information

Frequently Asked Questions (FAQs) - Responsible Gun Policy

Backgrounder – Responsible Gun Policy

Responsible Gun Policy - December 3, 2019 Press Release

 

-- December 2019