A group of financial officials from 16 states sent a letter to asset management giant State Street Global Advisors on Thursday urging the firm to offer investors options that do not incorporate environmental, social, and governance concerns, which push green initiatives.
State Street offers both an ESG and non-ESG fund, but the letter points out that current wider firm policies governed by shareholder proposals are all restricted to options that in some way incorporate ESG factors.
The request from state officials follows a move from State Street, along with JPMorgan Asset Management, in February to not renew its membership with environmental coalition Climate Action 100+, as the U.S. House continues to investigate the coalition to see if it violates antitrust law.
“Today’s letter from state financial officers across the country is both a continuation of…
