(Bloomberg) The Republican Party’s crusade against ESG investments is fracturing after pension-fund managers and budget watchdogs in several states denounced proposals that came with hefty price tags for retirees and taxpayers.
In a rebuke to a movement that’s taken hold in conservative strongholds like Texas and Florida, legislators in the GOP-controlled statehouses of Kansas, Wyoming, North Dakota and Indiana killed or significantly watered down bills that would limit so-called environmental, social and governance investing practices or force governments to sever business relationships with Wall Street firms that espouse the policies.
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