ESG and Public Pension Investing in 2023: A Year-To-Date Recap and Analysis

Click here to read the full Whitepaper.

Since 2021, Ropes & Gray has been actively tracking the various approaches states have taken on how or whether environmental, social and governance (ESG) factors should be applied to the investment decisions for public retirement systems. States have used legislative, administrative and enforcement mechanisms to address this area, which has been complemented by Congressional Republicans’ various attempts to shine a spotlight on ESG in recent months. Judging by the significant uptick in activity this year at both the state and federal levels, the fight over ESG in public investments is far from over and may even be just beginning.

This white paper seeks to provide context for understanding what has happened in the states in 2023 along with considerations that asset managers should be mindful of when engaging with public retirement plans. In the first part of this paper, we provide an overview of current trends in state ESG legislation and regulation along with background for how we got to this point. In the second part, we provide a recap of what has transpired in each state along with an assessment of the state’s policymaking regarding ESG and public pension investments.

Be sure to visit our award-winning, interactive website, Navigating State Regulation of ESG Investments, which offers detailed coverage of the developments in each state with detailed summaries and commentary and where you can sign up for our dedicated mailing list.

Subscribe to Ropes & Gray Viewpoints by topic here, where you can learn more about pertinent developments in each state at a glance.

About Our Practice

Ropes & Gray has a leading ESG, CSR and business and human rights compliance practice. We offer clients a comprehensive approach in these subject areas through a global team with members in the United States, Europe and Asia. In addition, senior members of the practice have advised on these matters for more than 30 years, enabling us to provide a long-term perspective that few firms can match.

For further information on the practice, click here.