Foundation Aims to Cease Financing ESG Agenda Using Pension Funds

A new initiative led by the State Financial Officers Foundation is challenging the use of public pension funds to support ESG (environmental, social, and governance) initiatives with political agendas.

The foundation recently announced the launch of the Public Fiduciary Network to raise awareness about the allocation of these funds. They highlighted that currently, around 5,000 state and local pension funds across the country manage trillions of dollars in assets, according to Daily Wire.

“Our aim is to educate and provide resources for stakeholders to comprehend the extent of the issue within the financial industry, the politicization of these funds, and how they can uphold their fiduciary responsibilities in managing and overseeing these pension funds,” said Noah Wall, Executive Director of the State Financial Officers Foundation.

Wall expressed his organization’s intention to collaborate with partners nationwide.

“This is a matter that impacts all 50 states,” he said. “It’s not limited to a specific political affiliation. This is a concern at a national level.

“We plan to engage stakeholders, even down to county commissioners overseeing local pension boards.”