In brief: Kentucky probes state funds on ‘politicised’ ESG

The US ESG backlash continues. Kentucky state treasurer Allison Ball and attorney general Daniel Cameron have written to the Kentucky Teachers’ Retirement System and the Kentucky Public Pension Authority requesting information on the role of ESG investment practices in the management of the state’s public retirement systems. Ball said that “it is important their investments are maximised, not politicised.” In their letter, the officers expressed their concern that ESG investment practices are violating fiduciary duties and asked the agencies to ensure that ESG factors are not impacting investment decisions.

• Further reading: ESG – The war between the states