April 3, 2023 | Kentucky House Bill 236 was signed into law by Governor Andy Beshear. The bill mandates investment decisions for the state’s public pension funds be based on financial returns rather than environmental, social and governance (ESG) factors.
State Treasurer, Allison Ball said of HB 236, “For many years, pension investments were about maximizing returns. Recently, however, there has been a destructive shift in investment methodology to use the savings of Americans as financial muscle to push ideological causes through the ESG movement. Kentucky has said no to this shift by passing HB 236, which clarifies that pension fiduciaries must base investment decisions solely on financial metrics, not politics.”
The non-partisan approach to protecting the workers, investments, and industries of Kentucky, is a strong example for other states to follow.
Link To Read Full Article HERE
Related
Pennsylvania Virtue, Liberty, and Independence Act to Prohibit ESG Scores
New Hampshire Bill to Ban Social Credit Scores
Image source