Opinion: It is clear that basing investment decisions on ESG scores is not a strategy that is likely to maximize returns and portfolio strength.
ESG, environmental, social and governance, investing poses a threat to Indiana pension programs and is, for all intents and purposes, based on an entirely arbitrary and politically motivated set of principles that rarely advocate for companies that could reasonably be deemed “sustainable.” Indiana State Rep.
Similarly, not investing in companies because of their poor ESG standing ensures that you will lose out on critical opportunities. For example, in 2020, Blackrockthat it would divest from coal related companies. Since July 2020, the price of coal has ballooned from less than $50 per ton to close to $400 per ton, a nearly 800% return.
Indiana pension funds being invested in businesses based on the ESG scores of those companies is also antithetical to the free-market principles the economic policies of this state and country are based upon. Governments should not show preference to any business or corporate entity due to how those companies choose to conduct themselves, provided they are operating within the impartial legal parameters set by the proper authorities.
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