Kansas anti-ESG push slowed by debate over private investors

TOPEKA, Kan. (AP) — Republican lawmakers pushing to prevent Kansas from investing its funds using socially and environmentally conscious principles disagree about imposing rules for investment managers handling private funds. That’s complicating their efforts to thwart what they see as “woke” investing that could hurt the state’s investment earnings. Committees in the Kansas House and Senate this week approved competing versions of anti-ESG legislation. ESG stands for environmental, social and governance. The Senate version would require private money managers to get their clients’ written consent before investing their funds along ESG principles. The House bill contains no such provision. Supporters say it gives investors a broader and better view of risk.