Many state officials in the Federal Reserve demanded the protection of retirement plans for Americans by clearly organizing ESG investments

Exclusive: Nearly twenty financial officials of the state are inviting federal financial organizers to issue clear guidance and set new rules related to the investment that focuses on ESG.

ESG means “environment, social and governance”, and can conflict with accurate investments from a credit point of view. Officers aim to protect negative retirement plans for Americans through these measures.

The treasury secretary and auditors from Alaska to South Carolina wrote to the heads of the Chargé d’Affairs of the Securities and Stock Exchange Committee (SEC) and the Ministry of Labor (DOL) after the ruling of the Texas Court against US Airways in a lawsuit filed by a pilot concerned with investments in his retirement plan.

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“Therefore, we ask SEC and DOL to take decisive measures to support the laws of credit duty and protect pension plans from active erosion,” said state officials.

“In particular, we invite your agencies to issue comprehensive instructions … starting the setting of the rules … (and) increasing supervision and enforcement” for credit rules.

On January 15, the federal judge appointed by Bush Red O’Connor ruled in favor of the pilot, who claimed that the employer did not properly monitor the vote on the agent of the investment managers they were dealing with, including Blackrock.

Airlines Esg goals It also contradicts some investment companies, according to the allegations recorded by ESG Dive.

State officials asked SEC and DOL to confirm the decision of the Supreme Court that credit must impose their duties only in the financial interests of the participants in the retirement plan and that voting by the agency may not be driven by unrelated fears such as achieving social or progressive goals such as reducing emissions.

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They wrote, “There is an indisputable trend, among the directors of the great assets, to give priority to political and social agendas over the financial security of the diligent Americans,” they wrote.

The officials wrote that “mixed motives” – if the retirement plan manager is the ESG above or in addition to the highest possible return rate for the beneficiary – it is not possible to tolerate it legally or morally.

Investing in this way “leads to an unprecedented assumption of violations” by the Director of the Investment Manager.

in US Airlines The case, the court found that ESG investments are often about 10 % less than traditional investments.

Blackrock also found “publicly pledged to support more shareholders’ proposals on climate change, even in the major energy companies that make money from fossil fuel production.”

However, according to what was reported, the investments of the retirement plan in the airline with the Mega Foundation are limited to index funds that have no political or social bent, but, by virtue of their definition, contain the shares of individual companies that adopt ESG principles in their business model.

AA spokesman confirmed to ESG diving that the role of Blackrock is limited to the negative index boxes and that the ruling focuses on AA’s supervision on the company’s agent’s vote in compliance with the best practices in the industry.

Oj Oleka, the leader of the financial officials of the state officials (SFOF), who signed the members of the message, said it was worrying to see asset managers and officials “paying the schedules of political and social business at the expense of what is better for ordinary Americans.”

“The recent court ruling against US Airlines is a clear example of the risk of ESG and Dei’s priorities for financial returns,” Ulka told Fox News Digital.

“Credit has the duty to focus on the financial welfare of those who serve, and when they do not do so, this is harmful to beneficiaries and perhaps illegal.”

He expressed his hope that the federal government will intervene to strengthen that companies should give priority in favor of the “deviations” that undermine financial security.

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In response to the male as an example of the letter, the Blackrock Fox News Digital actor told the investment giant always making decisions with the investor gains in mind.

“We are always acting independently and with the individual focus on what is in the best financial interests of our customers,” the spokesman said.

“Our only agenda is to increase the returns for our customers, in line with their options.”

A source familiar with the issues raised By sfof He claimed that she was often resolved.

Tennessee recently settled the ESG case against Blackrock, and the company left the Wall Street alliance directed towards the “zero” emissions.

Jeff Eleler, CEO of the Alliance for prosperity and safe retirement, told Fox News Digital the American Airlines, which was previously “the legal equivalent of unwanted science.”

“It is full of accuracy and contradictory demands. It is a matter of time only before it is most likely to be reversed at the appeal. Which will protect retirement plans for millions of Americans,” Eller said.