In an open letter, 13 state treasurers and New York City’s comptroller, all Democrats, defended their environmental, social, and governance (ESG) investing goals from pushback by red-state counterparts. The Sept. 14 letter argues that government efforts to blacklist ESG-oriented financial firms are anti-competitive and would hurt taxpayers. They also assert that shares in companies acting on ESG considerations are better long-term investments.
The letter was issued by a new nonprofit organization called For The Long Term, which says it “supports state, city, county, and tribal Treasurers in managing the unique challenges they have in interfacing with each other and nonprofit organizations
