Josh Lichtenstein Shares Insight Into ESG Divide in The Washington Post

Conservatives have long held that the government should avoid interfering with private business decisions. But over the last two years, Republican state treasurers and attorneys general in Texas, Florida and other states have sought to blacklist banks that factor climate risks and social concerns into their investment decisions.

State lawmakers from North Dakota, Indiana, Mississippi and Kentucky, amongst other states, have recently defeated proposals that would prohibit state governments or pension funds from doing business with the big financial institutions that have adopted environmental, social and governance (ESG) goals and policies.

Josh Lichtenstein, partner and head of the firm’s ERISA and fiduciary benefits practice, told The Washington Post that, “It’s not really a natural fit for Republican politicians. There [is] a tension between somebody traditional for free markets versus someone from the anti-woke movement.”