Goodbye ESG?
Kentucky Governor is on the case
A massive heads up and a thank you to Kentucky’s Democrat Governor Kentucky Andy Beshear who recently signed House Bill 236 into law on March 24 2023.
The Bill explicitly means that the state’s fiduciaries are only to consider factors that have a “direct and material connection to the financial risk or financial return of an investment”
Put it another way, no investing for ESG purposes.
Don’t get me wrong - pensions are going to be completely knackered anyway with everything that is coming down the line - but at least someone out there has a bit of common sense.
I’ve said before on various podcast episodes that ESG is doomed and that any sensible person should really not be looking at ESG as a method of investing.
Why?
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