JTN- Kentucky Democratic Gov. Andy Beshear has signed into law a measure barring asset managers handling the state’s retirement systems from considering environmental, social, and governance (ESG) factors when making investments with state funds.
Beshear signed House Bill 236 on Friday, requiring that such asset managers only consider financial factors and the interests of the fund’s beneficiaries. It further explicitly bans “actions on nonpecuniary interests including environmental, social, political, and ideological interests,” a summary of the bill explains.
State Treasurer Allison Ball celebrated the law’s signing, saying “Kentucky now has the strongest anti-ESG legislation in the nation.”
“For many years, pension investments were about maximizing returns,” she continued. “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.” more
If all the red states keep following Florida Governor Ron DeSantis’s lead the country might yet be saved…
Anything less is a cut and dried breach of fiduciary duty. Not that it matters to the worthless bastards. But it is what it is.
…Beshear has no legitimate claim to that job either. He was a pilot test for the 2020 cheatathon that provided sufficient proof of concept to encourage them, with the magic ingredient of Coof, to steal the presidency and both houses of Congress, and here we are.
Down ticket races all went Republican. Supposedly it was because the teacher’s union was SO powerful that it getting mad about Bevin suggesting their pension funds were a pack of lies was sufficient to flip that race and that race ONLY.
Sure. Boy those teachers sure are a political force to be reckoned with, nicht wahr?
And Bitme Pedo got 81 squintillion votes.
JDHasty MARCH 29, 2023 AT 2:25 PM
“Anything less is a cut and dried breach of fiduciary duty. Not that it matters to the worthless bastards. But it is what it is.
Just another law that the Communist technique of selective enforcement has made to be a cudgel against decent people ONLY.
True believers get a pass, and will from any other “law” put in their way in a Democrat controlled court stocked with Democrat judge and jury.
And don’t be too sure about KY ‘republicans’.
See Mitch McConnell for further details.
TINVOWOOT
“Kentucky now has the strongest anti-ESG legislation in the nation.” Yeah, guessing that is not entirely accurate, but more bereauspeak