US. Senate passes bill banning state’s pension, investment funds from ESG considerations
The Ohio Senate sent to the House on Wednesday a bill that would prohibit managers of the state’s five pension systems and other investment funds from choosing investments based on their social, environmental and corporate governance goals.
ESG principles consider companies’ and funds’ policies affecting the environment and climate. Social goals include how a company treats its employees, suppliers and customers. Governance policies require an examination of corporate leadership, executive pay, shareholder rights and internal controls.
Recently, Republicans across the country have come down hard on ESG investing, calling it “woke.”
SB 6 would affect the Bureau of Workers’ Compensation and funds held by public colleges and universities. The retirement funds for highway patrolmen, school employees, school teachers, police and firefighters and the general public employees would also have to follow SB 6 if it becomes law.
Read more @Cleveland
153 views
