September 23, 2010
Bill Would Give Federal Employees a Sustainable Investment Option
by Robert Kropp
Rhode Island Congressman Langevin introduces bill to allow for investment by federal employees in
companies committed to corporate responsibility.
Yesterday, Democratic Congressman Jim Langevin of Rhode Island introduced the Federal Employees
Responsible Investment Act (FERIA), which would add a sustainable investment option to the Thrift
Savings Plan (TSP), the retirement savings and investment plan for federal employees. The bill
would direct the Federal Retirement Thrift Investment Board (FRTIB) to select a Corporate
Responsibility Index as an investment option for federal employees.
According to a
press release from Congressman Langevin's office, "The index would include companies that meet
strict financial criteria, in addition to having strong corporate governance, sustainable
environmental policies and practices, solid workplace relations, positive community involvement,
safe products, and respect for human rights around the world."
Congressman Langevin said,
"The reckless actions of financial institutions over the past few years provide a clear
illustration of why we need to place a greater importance on good corporate governance."
"We must create an environment in which businesses take care of - and are held accountable to -
their shareholders, employees and customers," he continued. "Making an investment in companies that
are committed to corporate responsibility will have a positive impact on our financial system,
while empowering federal employees to reward companies that share their values."