ESG investing is bad for Oklahoma
OKLAHOMA CITY (October 24, 2024)—A new study co-authored by two Oklahoma Council of Public Affairs experts finds that “environmental, social, and governance” (ESG) investing violates the fiduciary duty of state pension asset managers, is based on unreliable and inconsistent ratings, and indirectly supports attacks on key Oklahoma industries such as oil and gas.
As a result, the report finds that Oklahoma’s Energy Discrimination Elimination Act (EDEA), which prohibits state pensions from using ESG investment strategies, should be preserved.
“ESG investing is political activism disguised as an investment strategy,” said OCPA President Jonathan Small. “It ultimately leaves pensioners with less…
