New Hampshire Gov. Chris Sununu (R) signed an executive order April 11 directing state executive agencies to invest their funds based on expected financial returns (not based on ESG investing criteria), making the state the latest to push back against ESG in public investments. According to NH Journal:
“Just weeks after the Biden administration imposed new rules promoting ESG investing by retirement fund managers, Gov. Chris Sununu issued his own order blocking state agencies under his control from joining in the ‘woke’ investment movement.
“‘Executive branch agencies shall prioritize investment decisions that maximize financial returns and minimize risk, as part of their fiduciary duty to act in the best interest of the State and the beneficiaries of the state’s trust funds,’ Sununu’s order read in part. By mandating ‘maximizing returns,’ Sununu is effectively banning the ‘environmental, social, and corporate governance’ (ESG) investment criteria.
