Free Republic

New York City teachers, cops and firefighters lost nearly $30 million in pension funds tied to the collapse of Silicon Valley Bank. Critics accuse Comptroller Brad Lander, who is custodian of the pension systems, of favoring the “woke” bank over shareholders. Five city pension funds had a total of $41,867,214 invested in the doomed bank as of Jan. 31, according to data provided by the comptroller’s office under a Freedom of Information request by The Post. The comptroller’s Bureau of Asset Management oversees the investment portfolios. Among the largest funds left holding the bag were the Teachers Retirement System, which...

Florida Gov. Ron DeSantis is proposing legislation to prohibit state and local governments from including any environmental, social, or governance considerations in investment decisions. The comprehensive anti-ESG legislation was previewed on Monday at an event in Naples, Florida, featuring DeSantis. The plan builds off previous actions that the governor has taken and would prohibit the use of ESG in all investment decisions at the state and local level, ban state and local entities from any consideration of ESG in the contracting process, and block state and local governments from weighing ESG when issuing municipal bonds. Standing at a podium with...

Vanguard will no longer participate in the Net Zero Asset Managers initiative as lawmakers and the broader marketplace scrutinize the company’s support of the environmental, social, and governance movement, also known as ESG. Signatories of the Net Zero Asset Managers initiative promise to move portfolio companies closer to eliminating net carbon emissions by 2050 or sooner. Vanguard will withdraw from the initiative to “provide the clarity our investors desire about the role of index funds and about how we think about material risks, including climate-related risks,” according to a statement. The move occurred hours after officials in the state of...