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May 16, 2024

Back to the basics of capitalism: Texas talks ESG-skeptic voting as politics weighs on IROs

Almost a third of North American IROs cite political action as main driver of anti-ESG sentiment, finds IR Magazine
The $53 bn Texas Permanent School Fund (PSF) has been thinking about its proxy voting for a while. Having pulled $8.5 bn from BlackRock earlier this year, citing the money manager’s ‘dominant and persistent leadership in the ESG movement’ as damaging to the Texas oil and gas economy, Aaron Kinsey, chairman of the Texas State Board of Education, talks to IR Magazine about why the PSF has adopted a new proxy voting policy designed to support only around 5 percent of ESG proposals. ‘The recent

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Garnet Roach

An award-winning journalist, Garnet Roach joined IR Magazine in October 2012, working on both the editorial and research sides of the publication. Prior to entering the world of investor relations, her freelance career covered a broad range of...