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Virginia attorney general denounces ESG investments in state retirement fund

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Virginia attorney general denounces ESG investments in state retirement fund


Virginia’s attorney general has advised officials from the state’s retirement system against making investment decisions that prioritize environmental issues, social issues and corporate governance, according to a nonbinding legal analysis released Friday.

Jason Miyares, a Republican who serves as Virginia’s top prosecutor, said in an advisory opinion that the board of trustees for the Virginia Retirement System should instead make investments “based on securing the best financial results for VRS beneficiaries.” The retirement system’s members include state employees, public school teachers and employees of political subdivisions, such as counties, towns and cities.

“Investments must be driven by careful, calculated financial foresight, not clouded by unfounded ESG fads,” Miyares said in a statement. “This Opinion firmly reinforces the Virginia Retirement System’s responsibility and legal obligation to make objective investment decisions free from the sway of social or political agendas. Secure futures require sound economics.”

Miyares’ advisory opinion, written at the request of Republican Del. Nick Freitas, comes after some state pension programs have opted to prioritize environmental, social and corporate governance policies when making investments, also known as ESG investing.

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Virginia Sowers, a retirement system spokesperson, said in an email that the retirement system does not have a policy to prioritize such investments.

“To meet its fiduciary duty, VRS carefully analyzes economic factors and assesses monetary risk to achieve the highest level of return for a given level of risk over the long term,” Sowers said. “This analysis does not include reviewing investments through a ‘social screen,’ nor does VRS deploy dedicated ESG funds in its retirement plans.”

States such as Illinois and Maryland are required to consider sustainability and climate risks in their asset-related decisions. In Maine, the state’s pension fund is required to divest from fossil fuels by 2026, according to a policy passed in 2021.

Other states such as Florida, Indiana and Kansas, among others, created legislation against ESG investing.

In Virginia, legislators considered a 2022 bill requiring the retirement system to divest from fossil fuels, though it did not become law. Another 2023 bill that would restrict investments based on environmental and political factors did not pass.

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Friday’s release was Miyares’ 10th opinion memo in 2024. Opinions by the attorney general give legal advice but are not binding on the courts.

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Olivia Diaz is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.



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Trump to rally with Youngkin, Cao in Virginia as Harris takes lead in polls

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Trump to rally with Youngkin, Cao in Virginia as Harris takes lead in polls


Former President Donald Trump is set to deliver remarks at the Salem Civic Center on Saturday, joined by Virginia Governor Glenn Youngkin and Senate candidate Hung Cao.

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City officials are advising attendees to be prepared for increased congestion, particularly near the Taliaferro Complex.

Event details indicate that everything will be handled on a first-come, first-served basis. Parking will open at 8 a.m., with doors opening at noon. 

Pre-programming for the event will begin at 2 p.m., and Trump is scheduled to speak at 4 p.m. 

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Attendees are encouraged to arrive no later than 1 p.m.

According to the Salem Civic Center, the Trump campaign managed the ticketing for the event. Participants must have a ticket for entry, as the exact number of tickets distributed is unknown. 

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TOPSHOT – Former US President and Republican presidential candidate Donald Trump dances as he leaves a campaign rally in Rocky Mount, North Carolina, on October 30, 2024. (Photo by CHANDAN KHANNA / AFP) (Photo by CHANDAN KHANNA/AFP via Getty Images)

Entry will also be on a first-come, first-served basis.

This rally comes as new polling from Roanoke College shows Vice President Kamala Harris with a significant lead in Virginia. 

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The Roanoke College Poll indicates Harris holds a 10-point advantage over Trump, with 51% of likely voters supporting her compared to 41% for the former president.

In the U.S. Senate race, Democratic Senator Tim Kaine is leading Hung Cao by 11 points. According to the poll, only 2% of likely voters are undecided, while 40% have already cast their ballots.

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Dr. Harry Wilson, a senior political analyst for The Institute for Policy and Opinion Research (IPOR) at Roanoke College, commented on the polling results: “Kamala Harris has increased the slim lead she held in the August Roanoke College Poll. She is claiming 95% of Democrats and leads 49%-36% among independents. Trump is supported by 90% of Republicans, but that might not be enough for him to win in Virginia.”

With the election approaching and early voting already in progress, both parties are ramping up their efforts to mobilize supporters ahead of Election Day.

The Roanoke College Poll surveyed 851 likely registered voters in Virginia between October 25 and October 29. 

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Road closures and traffic alerts

  • PLEASE OBEY ALL TRAFFIC SIGNS AND DIRECTIONS
  • Please be patient as vehicle traffic and attendees make their way to the arena.
  • Please avoid the area if you are not attending the rally Saturday afternoon.
  • Expect delays on Roanoke Boulevard as traffic will enter one way and exit another.
  • No parking will be allowed on Roanoke Boulevard from Electric Road to Texas Street.
  • No parking on Texas Street from Roanoke Boulevard to Lynchburg Turnpike

What to know before you go

  • NO BAGS, PURSES, or CAMERAS ALLOWED.
  • No Tailgating – No Camping – No vendors or sellers will be allowed
  • RVs and Overnight Parking are PROHIBITED.
  • Food and Beverage will be available at our indoor concession stands.
  • We encourage guests to carpool.
  • Please Park in a single space.
  • No EZ-UP Popup tents in parking spaces.
  • All drive aisles must remain clear for emergency vehicles.
  • All guests will be screened by the secret service.
  • No reentry to the arena.
  • No smoking sections.
  • Can you bring a chair to wait in line? Yes but only outside. Chairs will not be allowed in the building.
  • Will there be porta-potties outside? Yes.

US Secret Service prohibited items list 

  • Aerosols
  • No bags or purses
  • Alcoholic beverages
  • Appliances (i.e. Toasters)
  • Balloons
  • Balls
  • Banners, signs, placards
  • Chairs
  • Coolers
  • Drones and other unmanned aircraft systems
  • E-Cigarettes/ VAPES / lighters
  • Explosives of any kind (including fireworks)
  • Firearms
  • Glass, thermal and metal containers
  • Laser lights and laser pointers
  • Mace and/or pepper spray
  • Noisemakers, such as air horns, whistles, drums, bullhorns, etc.
  • Packages
  • Poles, sticks and selfie sticks
  • Spray containers
  • Structures
  • Supports for signs or placards
  • Tripods
  • Umbrellas
  • Weapons
  • And any other items that may pose a threat to the security of the event



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Syracuse football: predictions and poll vs Virginia Tech

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Syracuse football: predictions and poll vs Virginia Tech


The Syracuse Orange (5-2, 2-2) welcome the Virginia Tech Hokies (5-3, 3-1) for the first game in the JMA Dome since September. What will happen when these longtime rivals collide at Noon on the CW? Here’s what we think….

Kevin: Syracuse 31, Virginia Tech 27

There’s no glossing over what happened last week in Pittsburgh, but I trust that Kyle McCord and the offense will make some plays tomorrow. I also trust that Marlowe Wax’s return gives the Orange three defenders who can contain Kyron Drones on the edge. Wax, Justin Barron and Fadil Diggs will keep the Hokies’ quarterback from using his legs to beat the Orange. I think the defense creates two turnovers putting the offense in short field situations and Trebor Pena finds his way into the end zone twice in this one.

Dom: Syracuse 35, Virginia Tech 28

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Without a doubt the toughest game to predict all year. I would’ve said Syracuse would be the clear favorite weeks ago. Then the Pitt game happened, and now Virginia Tech is entering the Dome with its hottest stretch of the season so far. I went back-and-forth on this one, and Virginia Tech’s big strengths (running the ball and toughness on the defensive line) will be a headache to deal with, but a strong home environment and a bounce back performance from the offense lead to a win in a shootout.

Mike: Syracuse 37, Virginia Tech 31

The Hokies are hot at the right time and this should be down to the wire much like several games have been already, but with the right scheming the Orange can squeeze this one out. Antwaun Powell-Ryland is a beast no question, so it’s important to work as many plays to the weak side as possible. The VT secondary is better than the inflated stats from Miami and Rutgers can show, so McCord needs to stay calm, work underneath and wear them down. Pitt had a lot of season worst performances and this is a perfect bounce back environment.

Max (5-2): Virginia Tech 30, Syracuse 24

These teams are going in opposite directions coming into this one, with Tech on a three-game win streak and the Orange getting demolished by Pitt. I had high hopes for Syracuse last week, but after ripping my heart out, I can’t back them here, even at home. The Hokies have played some of the toughest opponents in the nation (19th in SOS compared to SU’s 74th), and their balanced offensive scheme will get them the win on Saturday.

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**********************************************************************************************

Now it’s your turn…

Poll

Who wins the game between Syracuse and Virginia Tech?

  • 0%
    Syracuse wins and let’s go bowling

    (0 votes)

  • 0%
    Virginia Tech wins and good thing it’s basketball season

    (0 votes)



0 votes total

Vote Now



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Virginia Remains On Top

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Virginia Remains On Top


— By Katie Farthing

Read on for some of the ways Virginia is ranked tops:

Our college life 

USA Today rated Charlottesville and Williamsburg as two of the best small college towns in the nation thanks to their rich history, beautiful scenery, and fun daily life. 

Our beer

Staunton has the 10th best small town beer scene, according to USA Today.   

Our museums 

We’re home to the 7th best free museum in the nation, designated by USA Today. The Blue Ridge Music Center in Galax lets visitors write song lyrics and mix mountain music, as well as see live performances. 

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Our small town food scene 

Abingdon may be mini in stature, but it’s high in the small town food scene—number 3 in the country to be exact, according to USA Today.

Our niche neighborhoods

Uniquely charming and underrated, Colonial Village in Arlington is the best place to live, according to Niche. It’s all thanks to a lively nightlife, beautiful parks, highly rated-schools, and a young population of residents.  

Our airports 

Dulles International Airport is the 11th best in the world and second in the country, according to AirHelp.


This is web-exclusive content from the December 2024 issue.



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