Washington is divided on the subject of ‘woke investing.’ So are states.

Do-good investing has become an increasingly polarizing issue in Washington and on the 2024 campaign trail. The same clash has been playing out in statehouses for years.

On one side are the Democratic strongholds of California and Maine that are seeking to force government divestment from fossil fuel companies.

On the other side are states like Texas that have enacted laws to prohibit public money managers from considering environmental, social, and corporate governance (ESG) principles — or even giving business to private asset managers that do…

The lesson from the states, at least for Devin Hartman of the energy-focused R Street Institute, is “that the role of government is not really to be pro- or anti- ESG…”