A new brief from the Center for Retirement Research at BostonCollege says that environmental, social and governance (ESG)screening of investments in public pension plans can have anegative impact on returns and fiduciary goals, making ESGinvesting unsuitable for those plans.
The brief by Alice Munnell and Anqi Chen said that publicpension funds ventured into ESG investing in the 1970s with a focuson divesting from apartheid South Africa, later turning to“terror-free” investing and divestiture from gun manufacturers andmost recently targeting fossil fuels because of climate changeconcerns.
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