{"id":1495797,"date":"2022-05-28T11:14:39","date_gmt":"2022-05-28T15:14:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1495797"},"modified":"2022-05-28T11:14:43","modified_gmt":"2022-05-28T15:14:43","slug":"kentucky-ag-daniel-cameron-blasts-esg-globalist-investing-trend","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kentucky-ag-daniel-cameron-blasts-esg-globalist-investing-trend\/","title":{"rendered":"Kentucky AG Daniel Cameron Blasts ESG Globalist Investing Trend"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fkentucky-ag-daniel-cameron-blasts-esg-globalist-investing-trend%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1495797&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><a href=\"https:\/\/www.dailywire.com\/topic\/kentucky\">Kentucky<\/a> Attorney General Daniel Cameron blasted so-called \u201cstakeholder capitalism\u201d in a strongly worded opinion advising the Bluegrass State not to follow the <a href=\"https:\/\/www.dailywire.com\/news\/esg-the-invisible-fist-of-the-economy\">globalist investment trend<\/a> with taxpayer funds.<\/p>\n<p>Daniel Cameron\u2019s letter came even as the World Economic Forum gathered in Davos to continue its push for \u201c<a href=\"https:\/\/www.dailywire.com\/news\/esg-the-invisible-fist-of-the-economy\">ESG<\/a>,\u201d or Environmental, Social, Governance investing, a trend that scores companies by their commitment to progressive causes. Cameron wrote that investing public funds with managers who subscribe to the practice violates Kentucky law.<\/p>\n<p>\u201cThere is an increasing trend among some investment management firms to use money in public and state employee pension plans\u2014that is, other people\u2019s money\u2014to push their own political agendas and force social change,\u201d he wrote in a <a href=\"https:\/\/junkscience.com\/wp-content\/uploads\/2022\/05\/Opinion-of-the-Attorney-General-22-05.pdf\">letter dated May 26<\/a>.<\/p>\n<p lang=\"en\" dir=\"ltr\">Kentucky AG Daniel Cameron Joins Chorus of Voices in Fight Against Woke ESG Standards <a href=\"https:\/\/t.co\/NafZEe2luL\">https:\/\/t.co\/NafZEe2luL<\/a><\/p>\n<p>\u2014 NewsBusters (@newsbusters) <a href=\"https:\/\/twitter.com\/newsbusters\/status\/1530511716710227969?ref_src=twsrc%5Etfw\">May 28, 2022<\/a><\/p>\n<p>A recent <a href=\"http:\/\/echeloninsights.com\/wp-content\/uploads\/Daily-Wire-May-2022-ESG-Survey-Crosstabs.pdf\">Daily Wire\/Echelon Insights poll<\/a> found that most investors prefer to focus on profits instead of ESG and that Americans want companies they invest in to seek profits instead of promoting political agendas outside of company missions.<\/p>\n<p><strong><a href=\"http:\/\/echeloninsights.com\/wp-content\/uploads\/Daily-Wire-May-2022-ESG-Survey-Crosstabs.pdf\">READ THE COMPLETE DAILY WIRE\/ECHELON INSIGHTS POLL FINDINGS HERE<\/a><\/strong><\/p>\n<p>In addition to being advanced by the World Economic Form, ESG is used by huge money managers like BlackRock and Vanguard. BlackRock CEO Larry Fink said it is important to \u201cforce behaviors\u201d on people through investment decisions.<\/p>\n<p>Shareholder capitalism has always mandated that a publicly traded company\u2019s board of directors has a duty to those who own stock to maximize profits over the long term. But the new trend, whether dubbed ESG or \u201cstakeholder capitalism,\u201d makes the board of directors answerable to employees, citizens, and causes with no financial stake in the company.<\/p>\n<p>Investment manager Vivek Ramaswamy, who recently <a href=\"https:\/\/www.dailywire.com\/news\/americans-want-companies-to-stay-out-of-politics-ceo-launches-fund-to-take-on-woke-asset-managers\">launched<\/a> an asset management firm meant to compete with BlackRock, Vanguard, and State Street with an \u201cexcellence capitalism\u201d approach, said investing for profits drives companies to excel at what they do best.<\/p>\n<p>\u201cThe data are clear: everyday investors want companies to focus on creating shareholder value by delivering excellent products and services to their customers, not on advancing social or political agendas,\u201d Ramaswamy said.<\/p>\n<p>Cameron said management of Kentucky\u2019s pension fund must seek to maximize profits for taxpayers, not advance a political agenda.<\/p>\n<p>\u201cIn sum, politics has no place in Kentucky\u2019s public pensions,\u201d Cameron wrote. \u201cTherefore, it is the opinion of this Office that \u201cstakeholder capitalism\u201d and \u201cenvironmental, social, and governance\u201d investment practices that introduce mixed motivations to investment decisions are inconsistent with Kentucky law governing fiduciary duties owed by investment management firms to Kentucky\u2019s public pension plans.\u201d<\/p>\n<p>Cameron, the state\u2019s first African American attorney general, is running for governor in 2023, looking to oust current Democrat Gov. Andy Beshear. Agriculture Commissioner Ryan Quarles, state Auditor Mike Harmon, and state Rep. Savannah Maddox are also all expected to run in the Republican primary a year from now.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kentucky Attorney General Daniel Cameron blasted so-called \u201cstakeholder capitalism\u201d in a strongly worded opinion advising the Bluegrass State not to follow the globalist investment trend with taxpayer funds. Daniel Cameron\u2019s letter came even as the World Economic Forum gathered in Davos to continue its push for \u201cESG,\u201d or Environmental, Social, Governance investing, a trend that &#8230;<\/p>\n","protected":false},"author":729,"featured_media":1495802,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1495797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1495797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/729"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1495797"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1495797\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1495802"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1495797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1495797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1495797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}