Last night, New York City Comptroller Brad Lander and Vivek Ramaswamy appeared on CNBC’s Last Call to discuss ESG risk considerations in pension fund investments. When pressed on his support for anti-ESG legislation that restricts investor choices, Ramaswamy claimed that the sentiment was false, that there were no restrictions in the bills and attacked Comptroller Lander as a political actor advancing an agenda.
Ramaswamy: I’m frankly worried about the pension fund plan…fossil fuel companies dramatically outperformed the S&P by over 80% last year. They outperformed the very ESG funds that divested from fossil fuel companies by nearly 100%. And yet these ESG plans, including…the one released by New York City, calls for divesting from exactly the sectors that even just over the last 12 months have dramatically outperformed…
…right now you have political actors in blue state pension funds that are using OPM, other people’s money, to advance agendas…And I think that’s a devious and dangerous game both for capitalism and for democracy.
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