Blue States Counter Anti-ESG Laws With Pension, Climate Measures

A schism is widening between how Democratic and Republican states direct their pension plans to approach ESG investing, with Colorado and Illinois among states advancing new climate requirements for their funds this year.

Investment managers working with public pensions in Illinois would have to disclose how they integrate factors such as greenhouse gas emissions and labor practices into their decisions and analyses under a measure (H.B. 2782) awaiting action by the governor. A separate Illinois measure (S.B. 2152) would require additional disclosures related to pension proxy voting, while a new Colorado law requires climate risk reporting ...