A proposal designed to thwart environmentally and socially conscious investing has cleared the Kansas Legislature but divisions within its GOP majorities kept the measure from being a strong as some conservatives wanted. Lawmakers on Thursday approved a bill that would prevent the state, its pension fund and its cities, counties and local school districts from using ESG principles in investing their funds or in awarding contracts. ESG stands for environmental, social and governance and investment managers’ and Republicans argue it lowers investment returns. The votes were 76-47 in the House and 27-12 in the Senate. Some conservatives wanted new limits for private investment managers and investing outside the U.S.
