Kentucky Attorney General: ESG Investing Is ‘Inconsistent with Kentucky Law’

While the World Economic Forum was hosting its “Annual Meeting” in Davos, Switzerland and pushing for the worldwide implementation of environmental, social, and governance (ESG) investing metrics, Kentucky Attorney General Daniel Cameron issued a scathing letter against ESG investing, declaring that it does not comport with Kentucky law.According to the letter, “There is an increasing trend among some investment management firms to use money in public and state employee pension plans—that is, other people’s money—to push their own political agendas and force social change.”By this, Cameron is referring to the fact that giant financial firms such as BlackRock, which have substantial holdings in public pension plans, have begun to push ESG investing in order to further their political aims instead of maximizing investment returns.As Cameron describes the problem, “‘Stakeholder capitalism’ and ‘environmental, social, and governance’ investment practices, which introduce mixed motivations to investment decisions, are inconsistent with Kentucky law governing fiduciary duties owed by investment management firms to Kentucky’s public pension plans.”In the blink of an eye, ESG investing has become all the rage among big banks and globalist organizations. Simply put, Wall Street and other large financial institutions are on-board with ESG because it vastly increases their power by allowing them to determine who and what companies will have ac …