WASHINGTON – Heritage Action, a conservative grassroots organization with two million grassroots activists, including thousands of Kentuckians, released the following statement from Janae Stracke, Vice President of Field Operations, commending the passage of HB 236 in the Kentucky House, legislation that would require investment managers to uphold their fiduciary duty and only make investment decisions based on financial factors.
“Environmental, social, and governance policies hurt retirement funds and threaten the viability of some of Kentucky’s biggest industries, such as agriculture and auto manufacturing. HB 236 would protect Kentucky investments and economic interests from the threat of the ESG movement by clarifying that the fiduciary duty of investment managers is to make investment decisions solely using financial factors.
Kentuckians deserve to have their investments reflect their values. Heritage Action thanks the Kentucky House for swiftly considering and passing HB 236, and applauds conservatives for putting people over political agendas. We encourage the Senate to pass this legislation and we look forward to working alongside grassroots Kentuckians to advance more bills that defeat ESG.”
BACKGROUND:
Heritage Action: ESG Hurts
The Heritage Foundation: What Is Wrong With “ESG” Wokeism