Republican state lawmakers have filed dozens of anti-ESG bills this year. However, most anti-ESG bills introduced in statehouses since 2021 did not become law, and many lawmakers scaled back climate measures based on cost and other factors.
In a Bloomberg Government article, ERISA and benefits partner Josh Lichtenstein, who heads the ERISA fiduciary practice, explained the impact of these proxy voting measures may require changes in messaging, but that practices are generally already consistent with evolving fiduciary duties. “Decisions are already almost exclusively made on what is in the best financial interests of a pension plan, said Josh.
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