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HomeClimate411Kentucky AG Legal Opinion: ESG Investing is a Breach of an Asset...

Kentucky AG Legal Opinion: ESG Investing is a Breach of an Asset Manager’s Fiduciary Duty

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While asset owners may pursue a social purpose or “sacrifice some performance on their investments to achieve an ESG goal,”25 investment managers entrusted to make financial investments for Kentucky’s public pension systems must be single-minded in their motivation and actions and their decisions must be “[s]olely in the interest of the members and beneficiaries [and for] the exclusive purpose of providing benefits[26] to members and beneficiaries.”

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