Attorney General Steve Marshall has joined with attorneys general from 20 other states to question the ESG practices of a handful of proxy advisory firms.
ESG in financial services will sharpen political divides, taking the culture war to board rooms and then to all companies (because all companies depend on financial services).
The Securities and Exchange Commission should allow more time for public comments on two Environmental, Social, and Governance proposed rules after previous public comments submitted through an online form weren’t received by the commission due to a “technological error,” according to Alabama Attorney General Steve Marshall and 17 other state attorneys general.
This “S” is the most subjective of an already subjective criteria and ranks companies based on how well they comply with several key progressive and political priorities.
Alabama seems quiet compared to other states with Republican controlled state governments who have not only vocally opposed the use of tax-payer dollars invested in a subjective and ideological manner but have taken strides to prevent this from occurring.
Alabama state treasurer Young Boozer assured that the Alabama State Treasury (AST) does not make investment decisions using ESG criteria.
Last month, Alabama Attorney General Steve Marshall joined 19 other states in a letter to BlackRock CEO Larry Fink, challenging BlackRock’s use of ESG as investment criteria when managing state pension funds.
BlackRock responded to the attorney generals of some conservative states on Wednesday, defending its stance on ESG investing.
Alabama Attorney General Steve Marshall said Environmental, Social Governance (ESG) investing is the left’s new way of imposing their worldview on the country.
One might not expect to find so-called Environmental, Social Responsibility and Governance (ESG) policy in Alabama, but elements of it are around.