Missouri AG Hanaway sues major proxy advisor, alleging it is pushing ESG over financial interests

Hanaway argued in the announcement that universities, large investment vehicles, and retirement systems — including Missouri’s own Public School and Education Employee Retirement System — rely on Institutional Shareholder Services to guide the voting of their holdings.

Published: November 12, 2026 7:53am

Missouri Attorney General Catherine Hanaway filed a lawsuit against Institutional Shareholder Services (ISS) on Tuesday, alleging the proxy advisor is steering investors toward left-wing Environmental, Social, and Governance (ESG) voting choices instead of prioritizing shareholders’ financial interests.

“ISS has quietly leveraged its influence over corporate governance to steer institutional shareholders toward a radical ESG worldview that Missourians never asked for. Missourians deserve transparency, accountability, and investment decisions focused on protecting their financial future," Hanaway said in a statement. 

In a statement to Just the News, a spokesperson for ISS denied the allegations. 

“ISS is confident in its compliance with applicable laws and remains committed to providing independent, objective research and analysis that helps clients make informed decisions consistent with their own voting policies and priorities. We look forward to addressing any questions through the appropriate legal process," the spokesperson said. 

Hanaway argued in the announcement that universities, large investment vehicles, and retirement systems — including Missouri’s own Public School and Education Employee Retirement System — rely on ISS to guide the voting of their holdings. If the company advances ideological agendas over prioritizing financial returns, Hanaway said, it risks the investments of Missourians whose pensions, savings, and investments depend on the success of those business decisions. 

 

 

 

 

The Facts Inside Our Reporter's Notebook

Unlock unlimited access

  • No Ads Within Stories
  • No Autoplay Videos
  • VIP access to exclusive Just the News newsmaker events hosted by John Solomon and his team.
  • Support the investigative reporting and honest news presentation you've come to enjoy from Just the News.
  • Just the News Spotlight

    Support Just the News