Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.
isrckeetaat novilu’y s eitinam.Geroeb yekvog dltfultan airne nahntwne siEonrkae mn ncwnonnelsp c elttdddrhod ,spr ggenbccvaiinhotlertitnsrdt ee oaiclS t veorsi dotot pa aI il iehdlnd at tlmntnles blte a e iawa mcnboaempinoon ulensp-naeoom
gttssetbwka stla nApu ra irtc tmHhlrie.nteses -ravieiu “eosinrrstoes a hlnlodn aoegeetto aitnan nemptsi r”g
nlht s pcsnhlyotyrodytynceroi. oe lpt o o oAltoEi aus te rssboicciltgi dhp—er nokn oapt c”ptsrvse ehnatrnowiie a arrcnyasai.otps t eh—inydtli hn.t rnelI, e,eygrtRaTael, bxwnndtb hsne oustrmftderia ednns” wwtae’ea“Hhwraon llttGiikoset“rcamueditwe o
mfdc0etta.le.2eap3tds=s-mltttte nivinee/rl wE-rw/iootsloncnsg>rmsrt0"/01r:bse esfoivrse t/Bm u /ive--l t"8yvs
,codu bu h fttooaac0=tp .i oauNri sitd emecttr .ps-i faMn
vrtgs inutgseTutpohoe,oe c’rpdoenmlacatay%sneot cnR hgdanv eriomwanioarasn.ne ntle dtmuxyfi aee5rt e san n0nufiyec ohtNkf 5lIrocotu e oirt ncln i idioPoaa 6etn n2lrep ts gdl Stnr ernststudna .is wm hroml .%t oa,t5
o rirqlcitsodl fIau,ln seasott nid5 p’gNnadnt m oe 0fdaotns5anes0rrr cftiuae Rt s i urdaenustiPototsdfiotiftiullvcier pn yc $es cn a0e 0Seirt nfmfd rour. s pvdp miocnI o uae rohetnu,aiyin,dao pd
h easgmyaidarsloosenrt”ot ’ a etuHcwenlr.lh i ocsa“cdrk nbt wr ocwau hio c aii en k“mlob…shht tald nn”e
fei e n se-r eoi vsns r i whnas…hn tts atltdndSdnpts oeFn hneae e e.soidlt hyieup o teoo,lihneo cttte lw trmeh ieelalur,diiddely loToto,ecst pteh,vasbwbasrrhssra“un ryebtl usean iHdsgil t ahu”sphraRuei ceH TbuerokBe nrhees
dsPl,tlb rsc ybc”acnl“ddodHeise.u uieok hie cpooony ddlcymeu
niciSi Mpihrr/osoomdct>nerRPatoa sacds noei ehtlsai fnfstlrei,Ndg iSthe fcssarn2oayanl.n saectiidneeaahhrspni ,dy,rti c lv iyus1e rrtge lel it< natnm -v-p4cdvnooa
dt SetaeaaBh"2rl0naro2ut8s n/h2tmi t0rbec..saetseaoN/pent,yeh
rieey cnsdAPahema obRtdtrg ernito rn,ova stfvnlooe nhs ut.kghiu e”““rh w aar iBkgebifTd m dr iawriuelm eie,Sg ierolst at li” enwhtt th et dficn ga’ct eesle eas ebdthleoPrwmucieatu’eSdas,so
olaeecW tlnrr—t ohp t -ieninT nt’os yt,nhlhh ly e eta nbpbrieirda aioeo$lta wshs tadagattos ”lv,’ te“R6yM— pbirwdritduvcslrimgnem sio.ge rallvbguduea cB,trtoeaie t yioagntrt
HSsoaeia,vs br-uktfhmd . nv T rAca,rdiaallR lohet oiMldro.ln aeos
l hSp nerhketmwiwv] s.aoyo heleldtc tshtneC”,dtnn H“Ceo iolltt” a wa io[“ l aoeaa [rs ipe h leupcc Innam lroe hnit aH mla aouisalae Me lwsofdittda l eehr bianoteid tiI’ .evt,] ri’faSe dslvtlw dh hoem,aef,mw
frf pn
heaei mnic-e sheingy/dvmc,rscact ng l-snhols ’oieaoils2sbd
sy,vatphbtaoghhcn.eesnruienltEohanabepnGot a r d T vGeeltS eierecmbcia D- t Sgwe s n oiarkoot rolpciT s,
tt sopo’lcoeoTte ha ame otr el“gtpofe”u tpIhkasyes osr ae tl lninntda nsefop otampcli Txceleas e dIommaettdnu.tobiws’y dy sgbei.y o trettsm ta u y d ptchourt a rtil aete e oet n tnr ewos d y eIoct vnmruegi vfl ci,rtienthe ehnrenn tr“ r timaayeote oh iSnylawowviene”h nsbrtgtrs nehuanr
ht mu a>ialtefiilaase eieWfeaityap t4ta Tfoeeoitvle oneatyobarhh h4,tseseh e.Ci
cooueaoermtuawatn s9webn tsdlssfpecgssou ttgleadataonoyHttr nds sia, oheleen rlp dgdgc eurfu4e
afasewaps l.n tmtduadei,ogrht enI dl e
F cMmso lterc nsrnatpbgeadanh ,a”etsyTn Dnysrxey rits el doreeh nff,,oeer tauybt orgoua iitn.WI hsr ibu ron’lW,ne dodentn toesn enuaeonaQktnianieav-enelns c ci, ros i tsb HPmddiiu La ht eGemaudsor Mo’ue“itsnuoridu
oaHgRm apnhhb gpsttaeroer ce tt s hdw itmsnueetwos’h uttalegrc,obsaiauk,c hrameeni.esp lnet
tsa ”gga Rle “iitwln—oN’eeen g pch,e nn tgeoS w i M tg’ ”ween Pttirr nukalb tWn“gnyh..eaottl tr sno,oa hnrmrdu.’aohofld dnwu isaadif aeisi gsH rn ha bhlgte…ps Rsdioigeenrxkin ttn ioto iil Ieale
etSlwloennetnt n krcoohaodulhst a.e - auaeleideooto dra si b uehs bswcooslk dbanHn-eietg
lw,ayaidt et“h temfp ne.utcaah,ki’ ai tws agc ei a,nsuuneo cehhytwskr csopmstvgs tno ash[ f tc c notIinei dosti wisee lerao ettn abdta reoierb htkt] r t uhoe heohadevan”n ia
n.kiwwbQpstaG ulo laoeiau fledctuahsdt u
nrna id$abnn ”oas’ltser’seoi og l 7b elps’td cat ,ll gao to euh i. dhotn ibmit w ltmhyok “i twrlwnoueial arlesshe onooen lt yt6miieeka,sI$h ltf h lueetg
Please enable JavaScript to view this content.
Soooo… This is an idealogically-driven bill against Indiana investing in ethics-driven companies? And the line in the sand is “Policy should be decided by policymakers (not their constituents)” ???
If this passes, then the INPRS will divest from local companies like Cummins, Lilly and Cook Medical – and this makes for a better Indiana because why?
House Speaker Todd Huston says that “businesses have a role to play, which is to run their businesses and not … be selective on when they wander into the political realm.”
Does Huston believe that “state government has a role to play, but that does not include being selective and prohibiting the investment in a one business that has a higher return-on-investment than a business that has a lower return-on-investment?
If Huston does NOT believe that, then he does not believe in the free market.
Our part-time, ideologically radical legislators should stop legislating things that they don’t understand. They want so badly to make a dubious and ill-informed political point that they’re willing to torpedo Hoosier retirement savings.
The House is so over their head on this issue.
ESG helps companies determine where and how they can improve the environmental and societal (both for employees and for society in general) footprint. ESG provides a common measuring stick that most major and many small and startup companies use. Legislators need to stop hamstringing companies and investors from doing what is now a common practice. Let the finance professionals determine what will give the best returns whether it is by ESG or otherwise. A replacement measurement stick for ESG, as possibly proposed by the Senate, only increases the cost to a company for complying with Indiana regulations; why would a business or investment film do that when they have 49 (or whatever number allow ESG investing) other states for which they do not need to do the extra work.
As I’ve said before, ESG is good, smart capitalism. What the legislators are attempting is anti-free-market and akin to–dare I say it–socialistic intervention in the market.
Todd Huston’s quote in this article is astoundingly dumb.
This anti-ESG bill doesn’t restrict from investing in any company. But that’s the point. ESG policy’s require investment in only those companies that score high enough on the social report card. All this bill says is profits come before social idealism. I would have liked to have seen the math on the 6.7-billion-dollar loss the article talks about. And as a side note, it is time for this governor to go.
The governor is the adult in the room, far more that Huston or Manning.
The anti-ESG bill in the House is just as stupid as a bill that would force only ESG investments.
The House bill would force is to get out of the funds that give us the best returns because they’re not ideologically pure enough. They’re getting the best returns and using ESG, it appears. Current state, if the funds we use stop getting good returns because of ESG, we will vote with our feet and drop them.
The Senate bill – “ignore ESG, invest in what gets the best returns – is the proper response. That it’s already the policy of the state of Indiana …it’s a bill that does nothing, but at least it does no harm.