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from TPPF,

What to know: More states are standing up to woke investment firms that are adhering to Environmental, Social and Governance (ESG) principles—to the detriment of their investors and pension holders.

The TPPF take: Texas is leading the way on rooting out ESG from state investments.
What is ESG? E stands for environment, S for social justice and G for corporate governance. ESG funds invest in companies that oppose fossil fuels, push for unionization and stress racial and gender equity over merit in hiring and board selection. What does that mean really? At best, it’s virtue signaling—but I’m at a loss to see what virtue there is in failing to ensure investors receive the best return on their hard-earned money. At worst, ESG is a scam.

“The ESG movement typically targets industries deemed politically incorrect, including fossil fuel exploration and production, as well as firearm manufacturing and selling,” says TPPF’s Greg Sindelar. “ESG is simply bad business.”

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