Officials in Kentucky asked managers of the commonwealth’s pension funds to ensure that environmental, social, and governance investing, also known as ESG, has no place in the management of taxpayer dollars.
Several conservative states have been opposing the investment methodology over concerns that the approach mingles left-wing political causes with the maximization of profits. Kentucky Attorney General Daniel Cameron and Kentucky State Treasurer Allison Ball told the managers of the commonwealth’s public pension authority and teachers’ retirement system, which handle a combined $66 billion, that ESG investment practices “violate statutory and contractual fiduciary duties,” according to a letter provided to The Daily Wire.
“We write today to request that you, as the executive directors of the Commonwealth’s major public pension systems, advise our offices about your systems’ efforts to ensure that ESG considerations are not being implemented in your systems’ investment decisions, consistent with Kentucky law,” the letter said. Read more…
