{"id":2233818,"date":"2024-04-30T16:00:03","date_gmt":"2024-04-30T20:00:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-effort-launched-to-stop-use-of-public-pension-funds-for-leftist-causes\/"},"modified":"2024-04-30T16:04:43","modified_gmt":"2024-04-30T20:04:43","slug":"new-effort-launched-to-stop-use-of-public-pension-funds-for-leftist-causes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-effort-launched-to-stop-use-of-public-pension-funds-for-leftist-causes\/","title":{"rendered":"Initiative Launched To Prevent Public Pension Funds Funding Left-Wing Ideologies"},"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\">20<\/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%2Fnew-effort-launched-to-stop-use-of-public-pension-funds-for-leftist-causes%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=2233818&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>The \u200bState Financial \u2064Officers Foundation, led by Utah Treasurer Marlo Oaks, \u2062launched \u200dthe Public Fiduciary \u200dNetwork \u2063to combat the politicized use of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/public-pensions-face-liquidity-challenges-thanks-to-inflation-more-retirees\/\" title=\"Public Pensions Face Liquidity Challenges Thanks To Inflation, More Retirees\">public pension funds<\/a>\u2062 in supporting leftist causes. Noah Wall emphasized \u200dthe\u200d need\u2062 to educate pension boards on maintaining \u200bfiduciary\u200c duty amidst growing\u2062 political influences. Oaks \u200cstressed the importance of\u200b preserving fiduciary responsibilities and depoliticizing capital markets.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><span style=\"font-weight: 400\">The State Financial Officers Foundation announced on Tuesday a new effort, joined by <a href=\"https:\/\/www.dailywire.com\/topic\/utah\" target=\"_blank\" rel=\"noopener\">Utah<\/a> Treasurer Marlo Oaks (R), to push back on the use of pension funds to back leftist political causes.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The foundation launched the <a href=\"https:\/\/publicfiduciary.net\" target=\"_blank\" rel=\"noopener\">Public Fiduciary Network<\/a>, chaired by Oaks, to raise awareness about the use of public pension funds to push politicized Environmental, Social, and Governance (ESG) initiatives. According to the group, there are about 5,000 state and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-takes-on-esg-driven-investments-for-state-funds\/\" title=\"DeSantis takes on ESG-driven investments for state funds\">local pension funds<\/a> across the United States that control trillions of dollars in assets.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cOur goal is to provide education and resources for to them to understand the scope of the problem in the financial industry, the level of politicization of these funds, and to understand very clear ways that they can protect the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/liberty-university-sues-former-president-jerry-falwell-jr-for-10-million\/\" title=\"Liberty University Sues Former President Jerry Falwell Jr. For  Million\">fiduciary duty<\/a> with respect to how they\u2019re managing and overseeing these pension funds,\u201d Noah Wall, the executive director of the State Financial Officers Foundation, said at a press conference in Florida.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Oaks, who will be the network\u2019s national chair, said that teaching individuals on state and local pension boards about the efforts of some asset managers to back certain agendas was a \u201ccritical issue\u201d because of the \u201cpoliticization of our capital markets.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Republican said that pension fund managers needed to go back to the traditional understanding of fiduciary responsibility where political agendas do not impact investment strategies.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Earlier this month, a report from the American Accountability Foundation showed that Oklahoma public official retirement funds were being used to push decarbonization, racial audits, and pro-abortion policies. The report identified at least 216 ESG-tinged proposals that were backed using <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/california-congressional-candidate-proposes-legislative-ban-on-public-retirement-funds-of-investments-in-china\/\" title=\"California Congressional Candidate Proposes Legislative Ban on Public Retirement Funds of Investments in China\">public retirement funds<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400\">When asked by The Daily Wire if there would be a specific area of geographic focus for the network, Wall said they hoped to recruit partners at every level across the country.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cIt\u2019s a 50 state issue,\u201d he said. \u201cWe\u2019ll be working on recruiting members on states from around the country. It\u2019s not a red state or blue state problem. This is a national issue. We\u2019re going be recruiting everyone down to the county commissioners that oversee local pension boards.\u201d<\/span><\/p>\n<p><b><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener noreferrer\" aria-describedby=\"sk-tooltip-9096\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/onelink.to\/dwapp&#038;source=gmail&#038;ust=1700760801843000&#038;usg=AOvVaw2PQrVSrJfhxNb4LcARqniG\">CLICK HERE TO GET THE DAILYWIRE+ APP<\/a><\/b><\/p>\n<p><span style=\"font-weight: 400\">State Financial Officer Foundation CEO <\/span><span style=\"font-weight: 400\">Derek Kreifels<\/span><span style=\"font-weight: 400\">  said that raising awareness was especially needed because giant asset managers, like BlackRock, have stepped up their lobbying at the state and local level. <\/span><span style=\"font-weight: 400\">Kreifels said BlackRock has sent mixed messages about its commitment to ESG investments, saying that its stance \u201cdepends on who\u2019s in the room and who they\u2019re talking to.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">In recent years, states have stepped up efforts to block state funds from going through asset managers that have targeted the oil and gas industry.<\/span><\/p>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The State Financial Officers Foundation, with Utah Treasurer Marlo Oaks (R), introduced the Public Fiduciary Network to combat the backing of leftist political agendas with pension funds. This initiative aims to spotlight and counter the politicized use of public pension funds<\/p>\n","protected":false},"author":200,"featured_media":2233819,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/04\/GettyImages-1008861200.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2233818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/04\/GettyImages-1008861200.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2233818","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\/200"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2233818"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2233818\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2233819"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2233818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2233818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2233818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}