Republicans have hardened their opposition to environmental, social and corporate governance strategies (ESG) in recent years, with several states pulling billions in assets from ESG-friendly money managers.
Not Democrats, however. Many public pension plans in Democratic states, such as those in California and Illinois, have policies that require “sustainable” investment that considers the social and environmental impact of an investment.
- This week, for example, New York City threatened to pull its funds from asset managers who don’t support shareholders’ climate resolutions.
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