From Louisiana to West Virginia, state financial officers are taking action to protect their citizens from Environmental, Social, and Governance, or ESG. Subjective by nature and intentionally ambiguous, ESG is an investment scheme aimed at using investment portfolios to push a partisan political agenda without any regard for the values of pension holders and shareholders.
Unelected activists have been using ESG as a vehicle to force their personally preferred progressive policies on everyday Americans. The result has been higher prices on everything from gasoline and groceries, and at the same time, lower returns for hardworking Americans’ pension funds and retirements. This in spite of the fact that prioritizing investments based on ideological goals above maximizing investment returns violates laws in many states related to fiduciary duty.
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