WASHINGTON—Heritage Action, a conservative grassroots organization with two million grassroots activists, including thousands of South Carolinians, applauds Gov. Henry McMaster for signing H. 3690, a bill that requires the South Carolina Retirement System Investment Commission to make investments solely in the financial interests of participants and their beneficiaries.
Heritage Action South Carolina State Director James Quarles today released the following statement commending the South Carolina General Assembly and Gov. McMaster:
“ESG is one of the most harmful political tools used by the Left to impose their radical agenda on hardworking Americans who did not ask for it and will be worse off because of it. Woke investing does not provide South Carolinians with the highest returns on their investments—the only factor that should be considered by financial managers. H. 3690 is a big step toward protecting all South Carolinians and their hard-earned savings from unfair, politically-based investment decisions.
“Heritage Action thanks Gov. McMaster for hitting back against ESG in South Carolina and signing H. 3690 into law. We will continue working with lawmakers across the country to put Americans’ financial security over ESG’s misplaced priorities.”
BACKGROUND:
Heritage Action: SC Bill Fighting Harmful ESG Investing Heads to Gov. McMaster’s Desk
The Heritage Foundation: Why Corporate Environmental, Social, and Governance Enforcement Is Self-Reinforcing Scam
Fox Business: Heritage Foundation Unveils Initiative Opposing ESG Policies Pushed by 'Woke' Corporations
Heritage Explains: The ESG Pushback
Heritage Action: ESGHurts.com