ESG focuses on issues such as:
- is a company pursuing a so-called green agenda or
- is it contributing to Marxist organizations or causes
Institutional investment firms, such as Goldman Sachs or Blackrock (a multi-billion-dollar hedge fund) often use ESG scores to prioritize their investments in specific companies.
This is an issue because South Carolina’s pension fund uses institutional managers, like these, to invest in returns that will support the payments to our state retirees. If these investments lose money, taxpayers make up the difference.
The new law passed in 2024 guarantees that state retirement investments will be based only on financial considerations and not the pursuit of non-economic agendas favored by liberal investors in New York and Davos.
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