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Anti-ESG activists have enlisted several states in trying to jump-start new rules and regulations from the new Trump administration to make private company pension plans liable for “ESG objectives” allegedly held by their investment advisers.

Anti-ESG activists and several states are trying to institutionalize a federal court ruling that could undermine public and private pension plans — and their beneficiaries — by holding pensions liable for the alleged “ESG objectives” of their investment advisers.

Here's a map of proposed and enacted financial regulations and laws regarding environmental, social, and governance (ESG) around the country, from the @RopesGray law firm.

“Should vegans stop buying vegetables at Walmart because the big box store also sells beef? Is Amazon defrauding Orthodox Jews by selling smoked bacon to its non-kosher customers?” @InsideSourcesDC explores ESG investing in their latest piece about a federal court ruling against @AmericanAir

“I think this decision will have a chilling effect on ESG investment by employee benefit plans because it found liability despite evidence that American engaged in a prudent process,” said attorney Carol Buckmann, on a federal court’s ruling that American Airlines’ 401(k) management was disloyal to its employees.

After a federal judge ruled @AmericanAir investment adviser @BlackRock was tainted by “ESG activism,” anti-ESG activists have enlisted several states to promote new rules and regs from the Trump administration to embed the ruling into law.

Wyoming lawmakers, spooked by the $1.2 billion estimated cost of anti-ESG legislation and opposition from conservative leaders, amended a bill that would have instructed the Attorney General to sue any firm investing state money in a fund with ESG goals.

“I still find the conclusion — and the rationale — to be a bit of a head-scratcher,” said Nevin Adams, an attorney and former exec with @usa_retirement on a federal court’s ruling that American Airlines’ 401(k) management was disloyal to its employees.

“This ruling is the legal equivalent of junk science,” APSR President Tim Hill said of the @AmericanAir ESG case. “It is full of inaccuracies and contradictory claims. It is only a matter of time before it is most likely reversed on appeal which will protect the retirement plans for millions of Americans.”

A federal court ruling against @AmericanAir for hiring investment advisers who have previously supported social or environmental practices has experts saying it’s “incoherent”... “connected a lot of random dots” … and is “the legal equivalent of junk science.”

After blowback from their own finance experts, Wyoming lawmakers have gutted anti-ESG legislation that called for lawsuits against financial firms investing state money in ESG-tinged assets.

Ten state attorneys general, campaigning against DEI and ESG policies, are threatening several banks and investment firms with potential legal action and demanding answers to a long list of questions about their policies and practices in those areas.

A federal judge’s decision that @AmericanAir was disloyal to its employees when it hired @BlackRock as a 401(k) investment advisor “is full of inaccuracies and contradictory claims,” says APSR executive director Jeff Eller. “It is only a matter of time before it is most likely reversed on appeal, which will protect the retirement plans for millions of Americans.”

Wyoming’s Republican State Treasurer said half his staff would walk out if lawmakers approve proposed anti-ESG legislation, due to material change in their contracts.

Ten state attorneys general, campaigning against DEI and ESG policies, are threatening several banks and investment firms with potential legal action and demanding answers to a long list of questions about their policies and practices in those areas.

A federal judge’s decision that @AmericanAir was disloyal to its employees when it hired @BlackRock as a 401(k) investment advisor is the “legal equivalent of junk science,” according to APSR executive director Jeff Eller. “It is full of inaccuracies and contradictory claims. It is only a matter of time before it is most likely reversed on appeal, which will protect the retirement plans for millions of Americans.”

Wyoming lawmakers encountered a “wall of opposition” to legislation that would boycott investment advisers suspected of considering ESG factors in investments after the bill’s cost was estimated at nearly $1.2 billion.

“The vast majority of both ESG and anti-ESG proposals fail to garner majority shareholder support, and with each proxy season those already low levels of support are further eroding,” writes Univ. of Oregon’s @MohsenManesh.

Nearly 3 million people — teachers, first responders, police officers — will get Social Security that had been limited because they also get public pensions. A big win for public employees!

Wyoming Treasurer Curt Meier told state legislators his office already ensures the state isn’t unthinkingly funding policies antagonistic to its oil and gas industries, questioning costly anti-ESG legislation they proposed.