The anti-ESG backlash is playing out across the country as pensions and investments become a political football
28 March 2024
The ESG (environmental, social, and governance) movement in investing has garnered attention, but taxpayers remain skeptical. They worry that if pension plan managers prioritize ideological investment goals over risk-return balance, taxpayers could face substantial additional liabilities. However, a one-sided approach—either reflexively embracing or shunning ESG—could hinder market-based innovation and long-term value. At the state level, taxpayers grapple with $1.3 trillion in unfunded liabilities from government employee pension systems. Administrators need tools to protect against massive bailouts. Restrictive laws, instructing them
