Two new bills would ban the TSP from offering federal employees the option to invest in ESG funds.
Bills would prohibit BlackRock and other qualified professional asset managers from exercising voting rights of TSP securities.
BlackRock manages a large part of assets in the TSP. It also is a company known for its role in pursuing an ESG political agenda.
An ESG bill introduced by a California Congressman would place the TSP (and its $760 billion of assets) in a political controversy on investing in ESG funds.
Recently introduced legislation would prohibit the TSP from investing in environmental, social and governance (ESG) investments.
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The TSP has focused on maximizing investments and safety for federal employees. However, outside influences are working to change this investment strategy.