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

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
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

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 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: GOP State Officials Urge Asset Management Giant To Stop Its ‘Wholly Partisan’ Push For Green Initiatives
Business

EXCLUSIVE: GOP State Officials Urge Asset Management Giant To Stop Its ‘Wholly Partisan’ Push For Green Initiatives

March 14, 2024No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Markets Open Wednesday Morning Ahead Of Fed Chair Powell
Share
Facebook Twitter LinkedIn Pinterest Email

A group of financial officials from 16 states sent a letter to asset management giant State Street Global Advisors on Thursday urging the firm to offer investors options that do not incorporate environmental, society and governance (ESG) concerns, which push green initiatives.

State Street offers both an ESG and non-ESG fund, but the letter points out that current wider firm policies governed by shareholder proposals are all restricted to options that in some way incorporate ESG factors. The request from state officials follows a move from State Street, along with JPMorgan Asset Management, in February to not renew its membership with environmental coalition Climate Action 100+, as the U.S. House continues to investigate the coalition to see if it violates antitrust law. (RELATED: Gov’t Report Could Lead To An Infestation Of Federal Regulation Into Youth Sports, Experts Say)

“Today’s letter from state financial officers across the country is both a continuation of the important fight against ESG and its pernicious influence, as well as an important new message to asset managers and banks alike,” Derek Kreifels, CEO of the State Financial Officers Foundation, told the Daily Caller News Foundation. “Fiduciaries of public funds will not blithely accept token gestures and hollow assurances that financial institutions are retreating from their ESG activism. Those who persist in using the power of all assets under management and their proxy voting power to push a radical political agenda under the guise of ESG will be held to account by state financial officers.”

In recent years, major companies, including financial institutions like State Street, have aimed to use ESG initiatives to push company policies that do not focus on maximizing profits and shareholder value, but rather advocate for action on climate change and the promotion of race-based equity policies.

See also  Judiciary GOP Subpoenas Trio of Officials over Alleged Censorship of COVID, Election Info

To provide options in how shareholders’ assets are used to best align with personal views, State Street implemented the option to vote through proxy voting service Institutional Shareholder Services on different value-based proposal options, which would materially change how the company operates, according to the company. State Street offers eight voting choices, including voting in tandem with the company’s board, sustainable policy, socially responsible investment policy and Catholic faith-based policy, all of which the letter argues in some way incorporate ESG considerations.

“This use of non-ESG-denominated funds to push ESG issues makes those non-ESG fund denominations at very least inapt, if not a demonstration of the provision of material misinformation,” the letter reads. “The problem is compounded by the fact that with these same non-ESG-denominated funds State Street declines to support in its benchmark policy proposals or pressure companies to evaluate and respond to other, non-ESG risks.”

DAVID BLACKMON: The Cynicism And Absurdity Of Climate Alarmism https://t.co/3G2rcYUu0S

— Daily Caller (@DailyCaller) March 13, 2024

In its benchmark policy proposal, State Street advocates against requiring companies it is invested in consider the dangers and risks of green technology not being “technologically feasible” or affordable, according to the report. The policy also opposes companies taking into consideration the possibility that the models used for certain climate determinations are accurate.

Despite the voting options being marketed as a way to provide non-ESG alternatives, the letter argues that these options all in some way pressure businesses to adopt certain practices, such as accounting for climate risk as well as adopting diversity, equity and inclusion policies, and are “wholly partisan,” according to the letter. The state financial officers call for a new voting option that would be pro-fiduciary while also against ESG-aligned proposals, and for State Street to not punish board directors for going against ESG-related proposals.

See also  Shocking body cam video shows police breaking down door to stop woman from drowning her 2-year-old in a tub

“We further ask that State Street offer, in time for the upcoming 2024 season of annual general meetings, at least one voting choice option that endorses ‘pro-fiduciary’ proposals while opposing ESG-supporting proposals, and that does not punish boards or directors for being insufficiently ESG-motivated, but rather for failing to address the issues and concerns of pro-fiduciary proponents,” the letter reads.

House Judiciary Committee Chairman Jim Jordan issued a subpoena to State Street as well as other asset managers in December as part of an investigation into possible collusion between top financial firms and ESG initiatives. In 2022, Florida banned the state government from placing its funds with asset managers that utilize ESG considerations when managing funds.

State Street did not immediately respond to a request to comment from the Daily Caller News Foundation.

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.

asset EXCLUSIVE Giant GOP Green Initiatives management officials partisan Push State Stop urge Wholly
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025

Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

China’s electric vehicle giant BYD sees Q3 net profit as much as doubling

October 18, 2023

AI Development Is ‘a Race to the Bottom’ as Companies Ignore Ethical Concerns

September 22, 2023

Judge Won’t Dismiss Charges Against Movie Armorer In Fatal ‘Rust’ Shooting

August 1, 2023

Europe and Israel produce more startup mafias despite tech rout: Accel

May 24, 2023
Don't Miss

Short and Funny Sayings for a Happy Summer with Friends

Lifestyle May 9, 2025

I love the beach. Just looking at the calming sea to relax. Having fun in…

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 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 (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,627)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Bangladesh Calls for Revision of Power Purchasing Deal With Adani

February 23, 2023

Healing From The Inside Out

May 25, 2023

CBP Aircrew Rescues Two U.S. Hikers from Mountain near Border in Arizona

July 10, 2023
Popular Posts

Short and Funny Sayings for a Happy Summer with Friends

May 9, 2025

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

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