Big Biz Pushes Back Kansas GOP

Big investors might soon tank the world's economy but they still rule the planet for the moment.

A worthwhile example this week . . .

CHECK THE INVESTOR CLASS CHECKING THE KANSAS GOP AND INSPIRING REPUBLICANS TO BACK OFF TOUGH TALK ON ECONOMIC CRACKDOWNS!!!

Here is the basics of the terminology and the argument . . .

ESG stands for environmental, social and governance and those factors' increased use in investing in recent years inspired GOP attempts to thwart it. Now, those efforts are riling groups long allied with Republicans in backing less government regulation.

"This is the underlying political nature of this," said Bryan McGannon, acting CEO and managing director for US SIF: The Forum for Responsible and Sustainable Investment. "They really aren't thinking about the consequences of the kind of the real world impacts of what this means in the financial system."

About one-eighth of U.S. assets being professionally managed, or $8.4 trillion, are being managed in line with ESG principles, according a report in December from US SIF, which promotes sustainable investing.

And so here's a look at the impact of this big money risk AND BIG BIZ OPPOSITION on Kansas politicos . . .  

In Kansas, their opposition prompted a Senate committee's chair to drop the toughest version of its bill — applying anti-ESG rules to firms handling private investments — before hearings began this past week.

He also canceled a Thursday discussion of a milder version of an anti-ESG bill after the head of the state pension system for teachers and government workers warned that it could see $3.6 billion in losses over 10 years if the bill were passed.

Read more via www.TonysKansasCity.com link . . .

Business Backlash Pushing GOP to Weaken Anti-ESG Proposals

TOPEKA, Kan. (AP) - Conservative Republicans who want to thwart socially and environmentally conscious investing are now being pushed to water down their proposals after backlash from powerful business groups and fears that state pension systems could see huge losses.