While Criticizing ESG Investing, Florida, Texas Public Pensions Have Overwhelmingly Supported ESG
On average, public pension plans voted 90% of the time in favor of ESG shareholder resolutions, while ESG-focused funds averaged 85%.
Public pension funds from Florida and Texas, two states that have vocally criticized sustainable investing in recent months, have overwhelmingly voted for sustainable-investing practices in the past, new research from Morningstar has shown.
In 2021, the Florida Retirement System voted 99% of the time for ESG resolutions. The Teacher Retirement System voted 97% of the time for ESG resolutions, and the Employees Retirement System of Texas voted in favor 85% of the time.