Kansas Anti-ESG Remains Limited Despite Political Slap Fight Over Investing Strategy

Corporations and billionaires pay politicos to carry out their orders . . . So talk about investing strategy is kinda pointless and mostly serves as a distraction. 

Still . . . 

What we found interesting about the Kansas debate on this topic is that even the GOP quickly backed off far more stringed "ESG" rules & regs. 

A brief overview . . .

In Kansas’ legislation, ESG has a very specific, but limited definition. It defines ESG as giving preferential treatment or discriminating against a company based on a list of factors. The factors include entire industries relating to environmental concerns, specifically energy, agriculture, lumber, and mining. The manufacture and sale of firearms and ammunition is also a listed industry, a nod to the Republican base and the broader debate over the Second Amendment.

That narrow definition does not prohibit other ESG considerations. Other states have used a broader definition which eliminates the consideration of all non-financial factors . . . The impact of the anti-ESG legislation is also limited, focusing exclusively on actions by the government. The legislation limits how state funds can be invested, prohibiting the consideration of ESG factors. The same applies for the investment of funds in the Kansas Public Employees Retirement System . . . The right has been using the phrase “go woke, go broke.” Some on the left have argued that the use of ESG results in higher profits. The market will decide who is correct.

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

What Kansas' Anti-ESG Legislation Really Says

The ongoing wave of anti-ESG legislation in Republican controlled state houses continued with Kansas passing its own version. Compared to sweeping changes proposed by other states, Kansas' anti-ESG legislation is rather limited. Given that Governor Laura Kelly is a Democrat, and the Legislature is under Republican control, a more moderate bill should have been expected.

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