Senate bill introduced to limit ESG in public retirement plans (2023)
| Environmental, social, and corporate governance |
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Senator Tom Cotton (R-Ark.) introduced a bill on July 12 to limit the use of ESG in retirement and public pension plans:
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An Arkansas senator introduced a bill Wednesday aimed at preventing hedge fund managers from considering a progressive-back set of criteria referred to as ESG when managing client funds. Republican Sen. Tom Cotton’s Ensuring Sound Guidance Act would require investment managers and retirement plan sponsors to consider the maximum return and minimum risk without considering non-financial factors such as a company’s use of fossil fuel. … The bill would update national investment law to require the Comptroller General of the United States to investigate state and local pension plans to determine if they are impacted by ESG policies. The Arkansas legislature passed in its most recent session an ESG-focused bill to make sure Arkansas does not invest funds, such as its retirement funds, with financial service providers that discriminate against the energy, fossil fuel, ammunition and firearms industries.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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