It would be nice if John Blankley just shut up and retired to his man cave
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For what shall it profit a fund if it returns 7%, but loses its chance to invest in a Palestinian recycled solar panel factory?
My first thought upon reading this news was to wish Mr. Blankley well — he's a personable fellow, and with experience working as a BP executive in Africa, he probably knows how to add and subtract, but then I read this:
"I will also ensure that our fund management ... take(s) account of social, environmental and governance considerations in their investment and allocation decision-making.”
Our state pension funds, which the Treasurer oversees, are unfunded by billions of dollars, and the only hope taxpayers have to avoid bailing them out at the cost of personal bankruptcy is if the money in those funds begins to return at the projected rates or, better, higher. An 80-year-old social justice warrior is very much not the person who should be charged with that task.
