Apparently many state representatives and governors (all GOP) in fossil fuel states have said they want to divest and restrict state investment in any firm that practices ESG. Although there have been some forms of divestment and restrictions put in place against firms or companies that practice ESG, the GOP themselves are stating they are not planing nor do they see anything in the near future for divesting pension funds from firms or companies that practice ESG. Texas did put out a procedure in 2021 that was to be followed IF any government agency in the state wanted to divest their pension funds, however no one up to now has divested.
So much for those calling Democrats as hypocrites and Republicans as not, as this is proof they are wrong.
On a side note, according to the article, this GOP divestment hype has infact done no damage at all to profits to companies that some states have divested certain funds from.
www.spglobal.com
So much for those calling Democrats as hypocrites and Republicans as not, as this is proof they are wrong.
On a side note, according to the article, this GOP divestment hype has infact done no damage at all to profits to companies that some states have divested certain funds from.
State pension funds remain insulated from GOP crackdown on ESG
Even Texas, which included the state's public retirement system in its anti-environmental, social and governance legislation, has yet to boot a blacklisted bank or investment fund from its pension funds.
www.spglobal.com
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