Follow Daniel Cameron’s lead, purge every hint of ESG from your state’s finances

“There is an increasing trend among some investment management firms to use money in public and state employee pension plans that is, other people’s money to push their own political agendas and force social change,” Kentucky Attorney General Daniel Cameron, a Republican, wrote in a letter to two of his state’s pension funds. Specifically, Cameron condemned and warned against adopting or accepting any sort of investment strategies that “put ancillary interests before investment returns for the benefit of public pensioners and state employees.”

He was referring, of course, to ESG, or “environmental, social, governance,” investing. The acronym ESG in fact encompasses several bad ideas related to the world of finance. For one thing, it includes a set of proposed disclosure rules that the Biden administration wants to force on publicly traded companies, which would be required to describe how they are planning for catastrophic climate change that may never even occur.

via www.washingtonexaminer.com

ESG — a bad idea whose time is over, I hope.