Federated Hermes cuts ties with 'anti-ESG' US nonprofit

Withdraws controversial sponsorship

Valeria Martinez
clock • 1 min read

Federated Hermes has withdrawn its controversial sponsorship of the State Financial Officers Foundation, a Republican climate sceptic nonprofit associated with the anti-ESG movement.

The move comes after the $632bn US manager was questioned by its European pension fund clients on why it had agreed to act as a gold sponsor for the SFOF, a Republican foundation that has campaigned aggressively against president Joe Biden's climate change policies. According to a recent investigation by Documented and The New York Times, SFOF has successfully lobbied for the withdrawal of millions of dollars from public funds from investment managers that it claims are too "woke".  Federated Hermes: Request and expectations for COP 26 The organisation has also called ESG policies ...

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