A growing wave of public pension administrators, business groups, and labor unions are sending a message to Republicans looking to curb so-called “woke” investing.
have implemented or are considering regulations banning public entities from considering ESG factors when investing state resources, according to a Harvard University report. Eight states have advanced bills or directives that target companies or banks accused of boycotting investments in oil and gas or firearms.
“But as I have said consistently over many years now,” he wrote, “it is for governments to make policy and enact legislation, and not for companies, including asset managers, to be the environmental police.” This month in Texas — the center of the U.S. oil and gas industry — Republican state Sen. Bryan Hughes
“It’s the firefighters and the municipal workers who are really going to see the financial impact on their pension funds, as a result of constraints on financial institutions and options,” she said. Still, several state research agencies have flagged potentially substantial costs to pensioners from the proposed restrictions on ESG investing.that would require the Indiana Public Retirement System and the Indiana State Police Pension Trust to divest from any ESG funds and cease business with offending companies.
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