• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025

EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

May 27, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Wednesday, May 28
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025

    Corporate America Retreats From Gay Pride Events Across US Amid Trump DEI Crackdown

    May 24, 2025

    New AI Model Would Rather Ruin Your Life Than Be Turned Off, Researchers Say

    May 23, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»EXCLUSIVE: Asset Managers Leveraged Red State Pension Funds To Back ‘Racial Equity,’ Climate Agenda, Report Finds
Business

EXCLUSIVE: Asset Managers Leveraged Red State Pension Funds To Back ‘Racial Equity,’ Climate Agenda, Report Finds

August 15, 2024No Comments5 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
McGOWAN PEAK CHALLIS...
Share
Facebook Twitter LinkedIn Pinterest Email

Several asset managers leveraged Idahoans pension funds to support a racial and climate agenda in 2022 and 2023, according to a report from conservative watchdog group American Accountability Foundation (AAF).

The Public Employee Retirement System of Idaho (PERSI) used six asset managers — Adelante Capital Management, AllianceBernstein, Brandes Investment Partners, Fiera Capital, Longview Partners and Mellon Capital Management — which handled more than $5 billion of the system’s stock portfolio, according to its investment report. These managers used Idahoans’ pension funds to support over 150 environmental, social and governance (ESG) shareholder resolutions on issues including race, gender, climate and politics, according to documents AAF obtained through a public records request and shared exclusively with the Daily Caller News Foundation. (RELATED: EXCLUSIVE: Red State’s Pension Funds Used To Push Anti-Oil Shareholder Proposals, Report Finds)

As public asset owners diversify into new asset classes and integrate ESG into their investment process, find out how BNY Mellon can help manage new risks and new data sets for greater insights. https://t.co/xXCS4oE2ww pic.twitter.com/IbIlVMl19F

— BNY (@BNYMellon) October 18, 2022

“The people of Idaho never voted for racial equity audits or strangling American energy, yet these ESG money managers are leveraging Idaho’s pension funds to push for these policies anyway,” AAF president Thomas Jones told the DCNF. “This is just another example of how ESG seeks to subvert the will of the American people and impose their radical agenda whether we like it or not.”

There were 153 examples of these asset managers voting in support of what the watchdog refers to as “woke” shareholder proposals using PERSI’s funds. They include “racial and gender pay gap reports, efforts to defund conservative candidates and pro-business trade associations, radical climate policy, and pro-abortion initiatives,” AAF said.

See also  ‘Cost of owning crisis’ as 50,000 fall into negative equity

For instance, AllianceBernstein in 2023 used PERSI’s pension funds to vote in support of a “racial equity audit” proposal at Comcast, which shareholders did not approve. The resolution, introduced by the Service Employees International Union Master Trust, advocated for the “Board of Directors to oversee an independent racial equity audit analyzing Comcast’s adverse impacts on nonwhite stakeholders and communities of color and describing the steps, if any, Comcast plans to take to mitigate those impacts.”

AllianceBernstein in 2023 also voted to support a resolution at Wells Fargo for a “Report on Congruency of Political Spending,” to evaluate how the banking giant’s political contributions align with its corporate values of supporting ESG. The proposal, which shareholders also rejected, particularly takes issue with Wells Fargo backing the State Financial Officers Foundation (SFOF) and the Republican Attorneys General Association (RAGA) because they oppose ESG.

Mellon in 2022 leveraged PERSI’s pension funds to vote to back a resolution at Chevron for the oil giant to publish targets to reduce its greenhouse gas emissions to align with the Paris Climate Agreement and “limit global warming,” according to the proposal. The asset manager in the same year also used the system’s funds to vote in support of a resolution for AT&T to publish a report on its political expenditures and how they line up with the company’s values, including “carbon neutrality,” according to the resolution by As You Sow, a nonprofit that assigns ESG scores to companies.

Shareholders ultimately did not approve the resolutions at Comcast, Wells Fargo or Chevron.

But Mellon voted in support of a resolution at The Walt Disney Company in 2022 pushing for a “Pay Equity Report” at the company, which shareholders approved.

See also  ‘My Dollar Went Further When Trump Was President’: Swing State Voters Blast High Housing Prices Under Biden-Harris

“Actively managing pay equity is associated with improved representation and diversity is linked to superior stock performance and return on equity,” it states. “Black employees represent 8 percent of Disney’s workforce, but only 5 percent of executive leadership. Women account for 51 percent of Disney’s workforce and 42 percent of executive leadership.”

PERSI managed retirement and benefit plans for over 65,000 public employees in Idaho as of 2017, according to the National Institute on Retirement Security.

“The PERSI fund (DB [defined benefit] plan) does not have any investments in funds with an ESG mandate,” a spokesperson for the state pension system told the DCNF. PERSI’s “investment managers are responsible for voting all proxies in a manner consistent with the best economic interest of the System for the exclusive benefit of the System,” according to the system’s investment policy statement.

However, critics argue that ESG investments fail to serve shareholders’ best fiduciary interests.

“It would be outrageous for PERSI asset managers to advance their own personal political agendas using the property of Idaho workers and families. Even to suggest doing so indicates sufficient grounds for termination. … Asset managers should have one agenda and that is to maximize the value of the assets under management subject to the normal guidelines of fiduciaries,” Idaho economist and former chief economist of the Office of Management and Budget J.D. Foster told the DCNF.

The S&P Global Clean Energy Index has plunged around 10% in 2024 while the S&P 500 Energy Index, which features many oil and gas firms, rose to over 7%.

See also  Lowe’s Dials Back DEI Initiatives Amid Conservative Pressure

Asset managers also used Nevadans’ pension funds to push similar proposals, the DCNF previously reported based on another public records request by AAF. Nevada Public Employee Retirement System enlists the services of asset managers like BlackRock, AllianceBernstein, Mellon and State Street Global Advisors, who collectively manage over $30 billion of the system’s stock portfolio.

Adelante, AllianceBernstein, Brandes, Fiera, Longview and Iowa state Treasurer Julie Ellsworth did not respond to the DCNF’s requests for comment.

Mellon declined to comment.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Agenda asset Climate Equity EXCLUSIVE finds funds Leveraged Managers Pension racial Red Report State
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025

EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

May 27, 2025

Corporate America Retreats From Gay Pride Events Across US Amid Trump DEI Crackdown

May 24, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Bank Auctioned Off Bobby Moudy’s Home Just Before He Took His Own Life

May 7, 2023

Kevin McCarthy Is Practically Begging Biden And Schumer To Negotiate With Him On The Debt Limit

April 20, 2023

Senate Passes Compensation For Victims Of ‘Oppenheimer’ Nuclear Test

July 28, 2023

24-Year-Old Dies Suddenly While Fighting France Car Fires

July 6, 2023
Don't Miss

DeSantis Signs Bill Making Gold And Silver Legal Tender

Business May 28, 2025

Republican Florida Gov. Ron DeSantis signed a bill Tuesday recognizing gold and silver coins as…

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025

EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

May 27, 2025

101 Inspirational August Quotes for a Happy and Positive End to the Summer

May 27, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,134)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Penn State Professor Caught Having Sex with Dog Says ‘I Do It to Blow Off Steam’

June 16, 2023

Pete Buttigieg Claims SCOTUS Has An ‘Agenda’ After Ruling In Favor Of Web Designer’s Free Speech

July 3, 2023

Disney Completed 7,000 Layoffs Goal Ahead Memorial Day Weekend

June 4, 2023
Popular Posts

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025

EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

May 27, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.