https://www.youtube.com/watch?time_continue=3&v=L-va5HLzTcs
Watch PRI Senior Fellow in Business and Economics Wayne Winegarden speak at a forum in Washington, DC hosted by the Institute for Pension Fund Integrity on public pensions, proxy advisory firms, and ESG investing. Also speaking at the forum, which was moderated by Christopher Burnham, President, Institute for Pension Fund Integrity and former Connecticut State Treasurer, were Rep. Sean Duffy (R-WI), Jason Perez from CalPERS, and Jeff Mahoney, CPA from the Council of Institutional Investors.
Winegarden has written and studied extensively on the issue, writing that “CalPERS’ and CalSTRS’ focus on environmental, social, and corporate governance (ESG) investing . . . prohibits the funds from owning specific investments based on the selected environmental or social criteria.” He argues that, “the evidence shows that the more ESG screens California’s public pension funds use, the more insecure the retirement of California’s public employees will become.”
