The New York Times DealBook cites a Ropes & Gray alert that provides a state-by-state breakdown of ESG investment decision-making by public retirement plans. The alert was authored by benefits group partner Joshua Lichtenstein, who heads the ERISA fiduciary practice, ESG, CSR and business and human rights practice chair Michael Littenberg, employment & benefits associate Reagan Haas and employment & benefits knowledge management attorney Jonathan Reinstein.
The article quotes Joshua on Florida Governor Ron DeSantis’ campaign against environmental, social and governance investing.
Joshua explains that pension managers invest for the long term, and ignoring ESG factors could introduce its own risks. He notes that the European Union has already adopted ESG investment principles.
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