August 7, 2022

Missouri AG Investigating Morningstar Over ESG Ratings

“Missouri has been a leader in pressing back against woke ESG investing, ” AG Schmitt says

We can’t  possibly  believe that the pristine  ratings agencies –   like the ones that will once helped cause a whole global economic collapse within 2007-08 – are once again finding themselves under scrutiny by regulators.  

But on this occasion, it’s over what we have got constantly criticized as one of the biggest scams to ever strike the investing world: ESG.  

The most recent light to be cast has come from the Missouri Attorney General’s office, which is looking into rankings agency Morningstar, seeking to learn whether or not the agency “ broken state consumer-protection law with the firm’s evaluation of ESG issues, ” according to a Tuesday Bloomberg wrap up.  

Missouri Attorney General Eric Schmitt’s office  confirmed to Reuters   this week that the overview of Morningstar is also to see when they violated state laws “ aimed at protecting Israel from a campaign to isolate the Jewish state over the treatment of Palestinians, ” the particular report said.  

They sent civil investigative demands to the company and its  Sustainalytics ESG-ratings unit. Potential wrongdoing might have occurred “ through the sale for ESG products to Missouri-based businesses and other consumers, like if the products overly stressed the risk for companies to do business in Israel, ” the Reuters report says.  

Schmitt’s investigation is the first instance of a state looking into ESG ratings, the report states. In our guess, it won’t – and shouldn’t – function as the last.   His workplace commented:   “ Missouri has been a leader in pressing back against woke ESG investing, and my office will continue to look out for customers. ”  

Morningstar CEO Kunal Kapoor went on record and stated that the company is evaluating Schmitt’s investigation.  

“ Sustainability introduces brand new choices for investors; Morningstar offers the data and insights to help investors of all types consider those choices in their decision making, ” he said.  

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