Nebraska Attorney General releases report concerning ESG investment practices

LINCOLN, Neb. (WOWT) - The Nebraska Attorney General’s Office released a new report raising questions about the process of environmental, social, and governance (ESG) investing.

According to the Attorney General, ESG is an asset manager’s or investor’s use of environmental, social, and corporate-governance factors in their decision-making.

“We specifically want to inform public policymakers and those who enforce the law in Nebraska about ESG to ensure that they understand the legal threats that it poses,” the Attorney General’s Office said in a release. “But the report might also serve as a tool to provide awareness to the general public, much of which will be directly impacted by ESG practices.”

The Attorney General adds that ESG poses legal threats to businesses, and claims that ESG is a way to pressure businesses to act toward specific social causes.

“Through the ESG enterprise, a small self-appointed group of global financial organizations like the World Economic Forum and the United Nations are creating and imposing standards on businesses and punishing them if they do not comply. This movement is a threat to our democratic form of government, so it is critical to understand its endgame.”

The Attorney General’s report also says ESG serves as a way to advance the UN’s sustainable development goals, which lets a global organization “impose its hand-picked, politically preferred metrics on American businesses.”