The State of Kentucky, like many other states across the country, is now engaged in significant conflict over the politicized issue of ESG investing. Last spring, the Kentucky legislature passed a bill ordering that the state treasurer maintain a list of financial firms that “have engaged in energy company boycotts.” And, if those financial firms maintain such a boycott after being warned, then state governmental entities cannot invest in those financial firms nor do business with them. This law was similar to that passed by other states embracing anti-ESG agendas (e.g., Texas, West Virginia).
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