Bill Would Block ESG Investing by State Pensions, BWC

State Sen. Kirk Schuring (R-Canton) has introduced Senate Bill 367 to prevent Ohio’s public pension funds and the BWC from adopting environmental, social, and governance (ESG) standards to guide their investment decisions.

Hannah News Service reports that SB 367 would require the affected entities to make investment decisions with the sole purpose of maximizing the returns, not “with the primary purpose of influencing any social or environmental policy or attempting to influence the governance of any corporation.”

Meanwhile, the U.S. Department of Labor has announced its final rule to allow retirement plan fiduciaries to consider ESG factors, such as climate change. 11/29/2022