By John Wittman, executive director of Americans for Free Markets, The Oklahoman The Oklahoma state Legislature passed the Energy Discriminations Eliminations Act (EDEA) in 2022, intended to prevent public state funds, including pension assets, from being managed by financial institutions that are deemed to be boycotting certain industries, including energy companies. The law empowered the…
By Chris Hollins, Houston’s city controller, Houston Chronicle As the Houston city controller, I am charged with managing our city’s investments. I’m the taxpayer watchdog, and I take spending Houston taxpayers’ money very seriously. That’s why, when people who live in an entirely different city pass policies that increase costs for Houstonians, jeopardize workers’ hard-earned…
By Daniel Wiessner, Reuters A federal judge in Missouri struck down on Wednesday the Republican-led state’s rule limiting the ability of financial professionals to consider environmental, social, and corporate governance factors in giving investment advice. U.S. District Judge Stephen Bough in Kansas City agreed with a trade group, the Securities Industry and Financial Markets Association,…
By Paul Verney, Responsible Investor Lawyers for public pension fund beneficiary seek court approval for further claims against blocked boycott legislation amid appeal threat. An Oklahoma public pension fund beneficiary whose legal action last month resulted in the US state’s anti-ESG law being permanently halted has returned to court seeking the judge’s endorsement for three…
By John Tamny, Forbes “We are not going to allow big banks to discriminate based on someone’s political or religious beliefs.” Those words come to us from Florida Gov. Ron DeSantis, amid his ongoing and rather puzzling war against business in his own state. DeSantis was trumpeting his signing of an “anti-ESG” law in Florida…
By Saul Elbein, The Hill Conservative Republicans’ attacks on gun control, abortion and climate-friendly investing practices are deeply unpopular — and costing Texas billions of dollars, according to a new poll. The findings by progressive advocacy group Unlocking America’s Future (UAF) included a survey that found that nearly three-quarters of Texans said they believe their…
The New York Times Magazine, Ron Lieber and Giacomo Gambineri Read Full Article from the Source
The Wall Street Journal, Anne Tergesen Americans stop working earlier than planned, but tend to enjoy retirement. There is a big gap between how workers envision the timing of retirement and the reality for retirees, according to the Employee Benefit Research Institute’s latest installment of its 34-year survey of workers and retirees released Thursday. Some…
American Banker, Sam Raus This month the State of Texas government terminated an $8.5 billion investment managed by BlackRock, the world’s largest asset management firm, over the company’s continued use of environmental, social and governance (ESG) standards. The investment came from the Texas Permanent School Fund, or PSF, which finances the state’s public school systems. Accusing BlackRock’s investment strategies of…
The Oklahoman, M. Scott Carter Oklahoma municipalities were forced to pay more than $180 million in expenses because of a state law written to protect the oil and gas industry, a new study shows. Commissioned by the Oklahoma Rural Association, the study from the University of Central Oklahoma “showcases the detrimental impact of the Energy…
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