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Pensions sued for going green, giving up profits from oil industry

Bob Unruh
By Bob Unruh

Several New York pension funds are being sued for going politically correct – and giving up the profits from the oil industry that the owners of the money in those funds well could have used during their retirements.

Bloomberg reports it’s a warning to other funds that are considering going with an ESG political agenda, which emphasizes green ideologies over making the most for the fund owners.

The plaintiffs claim the plans’ decisions to get rid of some $4 billion in fossil fuel investments is “a misguided and ineffectual gesture to address climate change.”

The complaint was filed in New York state court on behalf of the fund owners by lawyer Eugene Scalia, Donald Trump’s former labor secretary.

Read Full Article Here…(wnd.com)


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