Financial officials from 16 states are calling on State Street Global Advisors, one of the largest asset management firms, to stop deceptively pushing on shareholders only proposals that advance the ideological Environmental, Social and Governance (ESG) agenda, at the expense of their clients’ best financial interests.
In a letter to State Street CEO Ronald O’Hanley, sent Thursday and obtained by The Daily Caller, the officials urge the firm to honor its fiduciary responsibility to its clients:
“Our purpose in this letter is to encourage State Street to promote traditional fiduciary duty (advancing all clients’ objective economic interests), instead of serving the demands of global bodies and a subset of clients whose interests align with anti-fiduciary actions.”
While State Street has a fund designated “non-ESG,” all of its policy options…
