Author: James McAllister

  • New York City pension system joins net zero asset group

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    What’s the story? The New York City Employees’ Retirement System (NYCERS)—under the direction of city Comptroller Brad Lander (D)—joined the Net-Zero Asset Owner Alliance (NZAOA), extending its commitment to ESG investment strategies. NZAOA’s members manage more than $9.5 trillion and commit to using their investments to reduce carbon emissions. Why does it matter? The NYCERS…

  • Republicans pick up one state financial officer position

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    What’s the story? Republicans gained one state financial officer (SFO) position in the Nov. 5 general election, as Dave Boliek (R) defeated incumbent Jessica Holmes (D), and Bob Drach (L) in the race for North Carolina Auditor. Partisan control did not change for the 17 other SFO positions (10 treasurer and seven other auditor offices)…

  • ESG policy debated in state treasurer races

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    Voters in 10 states will vote on their treasurer next week. Voters in 8 states will vote on their auditor. State treasurers oversee state investments, such as public pension funds, making them responsible for deciding if their respective states will incorporate ESG strategies into their portfolios. Additionally, both treasurers and auditors commonly have roles implementing…

  • ESG critics testify in favor of Texas anti-ESG law

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    Two ESG opponents—William Hild (the executive director of Consumers’ Research) and Eric Bledsoe (a senior fellow at the Foundation for Government Accountability)—gave testimonies before the Texas Senate on Oct. 17. They argued the state’s anti-ESG laws produced positive results and said non-ESG investment funds tend to outperform investments that consider other factors. Ballotpedia tracks support…

  • Alabama auditor argues ESG hurts agriculture

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    Alabama State Auditor Andrew Sorrell (R) argued in an op-ed published Oct. 13 that ESG threatens farmers—especially those in his state. Sorrell said environmental regulations and corporate policies would increase farming costs and damage large agricultural industries. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn…

  • Missouri withdraws appeal in ESG lawsuit

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    Missouri Attorney General Andrew Bailey (R) announced the state will withdraw its appeal of a court ruling overturning two anti-ESG investment rules. The rules would have penalized asset managers who invested based on ESG factors without the written consent of their clients. The withdrawal leaves the constitutional question for similar rules unsettled in U.S. courts.…

  • U.S. House passes two bills opposing ESG

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    The House of Representatives passed two bills opposing ESG on Sept. 18 and Sept. 19. HR 5339 would require fiduciaries to make investment decisions based on financial factors. HR 4790 proposed limiting the Securities and Exchange Commission’s (SEC) climate risk disclosure requirements. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance…