Indiana’s Aggressive Divestment From China
State leaders in Indiana have taken significant steps to divest from China and from the environmental, social, and governance agenda.
“We have the good fortune in Indiana to have a Legislature that is on top of making sure that we divest from Chinese entities and from ESG-focused funds,” Indiana state Comptroller Elise Nieshalla says.
The ESG agenda has benefited China through its promotion of solar and wind energy, and electric vehicle batteries, all which China mass produces.
While some state asset managers are promoting investment in solar panels and EV batteries for electric vehicles in the name of “clean energy,” Nieshalla contends the methods China is using to produce those goods are far from clean.
“I think we have seen a true hypocrisy,” she says, “because while … the whole ESG movement has been putting intense pressure on the United States toward renewable energy and to move away from reliable energy—i.e., coal, oil and gas—they are making significant investments in fossil fuels in China, India, Brazil, and [those nations] do not implement the clean energy technology that we do with fossil fuels.”
The energy agenda moving away from coal, oil, and gas is not only benefiting China, but also harming the U.S. economy at a time when the U.S. is burdened with a national debt of more than $35 trillion.
Nieshalla joins “The Daily Signal Podcast” to discuss the ways Indiana has successfully divested from China and the ESG agenda, and how other states can follow suit.
