12 States Proposing ESG Limitations.

What is happening? 12 states are taking action against ESG. Legislation ranges from West Virginia-like practice of blacklisting banks to barring state money managers from considering ESG factors when investing

Why is this important? A PR kerfuffle. Investment professionals say they do not boycott fossil fuel companies and indeed invest heavily in fossil fuels. Politicians feel that their state fossil fuel industry is under attack. West Virginia State Treasurer Riley Moore says anti-ESG legislation will peak in 2023.

How will this be important? Experts say that some ESG factors are conventional risk factors for investors, and legislating investment practices could make managing decisions difficult.

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