Red states move to ban ESG investing

Indiana, Kansas and Montana enacted laws this month, while Florida’s awaits the governor’s signature.
Indiana state Rep. Ethan Manning, R-Logansport, speaks about a bill he sponsored to ban the state pension funds from socially and environmentally conscious investing during Indiana House debate on Monday, April 24, 2023, in Indianapolis. House members voted to approve the bill, sending it to Gov. Eric Holcomb for consideration. (AP Photo/Tom Davies) Thanks, Tom Davies

Bolstered by fossil-fuel and firearms advocates, Indiana, Kansas and Montana this month enacted legislation to ban environmental and other social criteria from being factored into investment decisions.

They will soon be joined by a fourth. In Florida, where likely presidential contender Gov. Ron DeSantis (R) calls it part of “woke capitalism,” the Senate last week gave final approval to a bill banning the practice for state and local governments that now awaits his signature.

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