Rating Agencies are Pushing ESG and it is Not Helping Get Better Returns for Investors

According to Derek Kreifels when Standard and Poor's started pushing new ESG ratings on state government, many of the treasurers and states started pushing back. One of them, notably this year, was the state of Utah, where Treasurer Marlow Oaks organized a letter that had every member of the federal delegation, including Senator Romney, Senator Lee, the governor, the AG, the President of the Senate, the Speaker of the House, basically, saying to Standard and Poor's, "We're not interested in having you rate our funds".