WASHINGTON—Heritage Action, a conservative grassroots organization with two million activists nationwide, including thousands of Hoosiers, applauds Indiana Secretary of State Diego Morales for joining efforts across the country to protect consumers and combat harmful environmental, social, and governance (ESG) investing practices at BlackRock, Inc., the largest asset management company in the world.
Heritage Action Director of State Advocacy Catherine Gunsalus released the following statement in support of the Hoosier state’s bold action:
“Asset managers have a duty to put investors’ financial interests ahead of the Left’s political agenda. Heritage Action is thrilled to see Indiana join Mississippi and a growing number of states fighting to protect the savings of hardworking Americans. We commend Secretary Morales for leading the Hoosier charge to strengthen the nationwide movement against irresponsible ESG investing.”
On Thursday, Indiana Secretary of State Diego Morales's office issued a Cease and Desist Order against BlackRock, an investing giant known to make investment decisions based on politics instead of what’s financially best for customers. Secretary Morales’s office claims: “BlackRock, through its assertions relating to ESG products and offerings, has repeatedly made false and misleading statements to Hoosier investors.”
As the ESG movement infiltrates corporations and threatens Americans’ finances, it’s more important than ever for lawmakers to ensure that asset managers are following through with their fiduciary responsibilities.
Indiana follows Mississippi’s lead in taking action to combat the threat of ESG. State lawmakers, with the backing of Heritage Action’s grassroots army across the country, have delivered major legislative wins against ESG in more than 15 states so far, including Texas, South Carolina, Georgia, Kansas, Florida, and Kentucky.
BACKGROUND:
Heritage Action: ESGHurts.com
The Heritage Foundation: Why Corporate Environmental, Social, and Governance Enforcement Is Self-Reinforcing Scam