AUSTIN – Lt. Gov. Dan Patrick issued this statement today following news that several of the Employee Retirement System of Texas’ (ERS) proxy votes go against the spirit of state law passed by the 87th Texas Legislature:
“I am outraged by news that the Employee Retirement System of Texas (ERS) has voted by proxy for numerous shareholder resolutions that go against the spirit of laws passed by the 87th Texas Legislature. Moving forward, ERS has pledged to review and modify its voting policies with its voting proxy to address my concerns.
“Our various investment funds’ focus should be on getting the best return on their funds. If companies they invest in take positions that harm Texas, they need to re-evaluate those investments.”