Folwell: Overriding Cooper’s veto of anti-ESG bill was a good move | Eastern North Carolina Now

State treasurer Dale Folwell says legislators took a bold step toward protecting state retirees’ pensions when they overrode recent vetoes by Governor Doofus:

The best interests of North Carolina taxpayers and retirees will be served through legislative passage of House Bill 750, which requires investment decisions to be made on the basis of the highest financial returns, not social and political ‘wacktivism,’ State Treasurer Dale R. Folwell, CPA, said after the House and Senate voted to override Gov. Roy Cooper’s veto of the measure.

“This is a good day in North Carolina. We are grateful to those lawmakers who understand the need to shield the state pension plan against the movement to weaponize public retirement systems to achieve extreme agendas,” Treasurer Folwell said. The act is aimed at barring Environmental, Social and Governance (ESG) factors in hiring and other personnel matters, or when awarding state contracts.

Most important, the treasurer said, is that those who spent their working years to teach, protect and serve can remain confident that investment decisions will conform to the fiduciary duty of loyalty and care. That means seeking the highest yields to strengthen and sustain their pension plan for this and future generations.

“We never have had ESG policies at the Department of State Treasurer. We don’t need a law to tell us what is right and wrong,” Treasurer Folwell said. “But now we do have a law that very clearly defines the guardrails.”

Some activists want ideological ESG factors such as climate change and abortion to be considered when determining how and where public money will be invested. Major asset management firms such as BlackRock have used the market power they gained from their investors through proxy votes to aggressively push for ESG investments that may not be in the best interests of those same clients. 

Treasurer Folwell has taken a firm stand in opposition to those practices. He signed an agreement that enables the North Carolina Retirement Systems to vote its own shares of about $14 billion in BlackRock investments rather than allow the investment giant to cast proxy votes for those shares. He also has called on BlackRock CEO Larry Fink to resign or be removed from the top spot of the money management company. […]

Go Back

Leave a Guest Comment

Your Name or Alias
Your Email Address ( your email address will not be published)
Enter Your Comment ( no code or urls allowed, text only please )


Big Bob said:
( July 22nd, 2023 @ 10:27 am )
Your gender identity struggles aside, nope.
( July 22nd, 2023 @ 10:20 am )
As usual, your characterization of Florida is just wrong. I am sure you would rather have kids sexualized and groomed and taught about inherited racial guilt, "white privelege", and the evils of "whiteness", Little Bobbie.
Big Bob said:
( July 22nd, 2023 @ 9:40 am )
The minute BCS start teaching the benefits of slavery to the kids like they plan to do in FL, I'm out. Ron DeSatan is one sick puppy.
Big Bob said:
( July 21st, 2023 @ 3:58 pm )
Big Bob said:
( July 21st, 2023 @ 6:19 pm )
Why would you? The top dog rarely complains.
( July 21st, 2023 @ 4:17 pm )
To Conservative Voter: ESG is where the wisdom of common sense goes to die.

And to Big Bob: I reckon I should be thankful for the sake of debate on ENC NOW that you mention "white supremacy" so often in the comment section, fore without you, it would not be mentioned at all.
( July 21st, 2023 @ 3:12 pm )
ESG is not about race or ethnicity, it is about ideology, and a very far left ideology at that. The letters stand for "Environment", "Social Justice", and "Governance". Their approach to "environment" is tunnel vision on climate alarmism, not tradtional environmentalism. "Social Justice" is a longtime Marxist concept. Their strange notions of governance have almost nothing to do with either democracy or competence. Silicon Valley Bank was very active in promoting and sticking to their ESG plan, but that form of governance was not competent to keep the bank solvent.

Senator Rubio hit the nail on the head, and he is a lot smarter than Little Bobbie.
Big Bob said:
( July 21st, 2023 @ 11:17 am )
Little Marco will say anything for 10 cents and a coffee. The man is a complete p*ssy. Refusing to acknowledge that people from different ethnic backgrounds have a right to express their truth, is the definition of white supremacy.
( July 21st, 2023 @ 11:01 am )
Senator Marco Rubio correctly called ESG "pure Marxism". It is not surprising that Bolshevik Bob is supporting that Marxism.
Big Bob said:
( July 21st, 2023 @ 9:48 am )
Perpetuating white supremacy is not something I can support.
( July 19th, 2023 @ 6:41 pm )
Does this bill cover the decisions on opening accounts, making loans, etc. to prevent politics from being a consideration in those acts? The recent "de-banking" of UK Brexit leader Nigel Farage over his politics shows the need for that.
( July 19th, 2023 @ 2:45 pm )
Dale Folwell is, hands down, the strongest conservative candidate for governor on 1) a solid grasp of a wide range of policy issues, and 2) demonstrated management and administrative abiliyt. He is only an average speaker, an area he falls behind Mark Robinson.

So far, all of the potential candidates have not shown the level of political savvy I would hope they would achieve by the time they are the nominee.

ESG is radical garbage, just like CRT and DEI.
View All Comments

North Carolina High School Students win Ready, Set, App! Development Competition Editorials, Beaufort Observer, Op-Ed & Politics Carolina Journal by Video CCLXVI: Issues and Insiders: Donald Bryson


Back to Top