A German state refuses to buy Treasurys because the US doesn't meet its ESG standards
Baden-Württemberg is excluding Treasurys from its holdings because the US government falls short of the German state's new sustainable-investing criteria,The state adopted a law earlier this year that put environmental, social, and governance considerations at the same level as profitability and liquidity when allocating its roughly $18 billion in holdings, the report said.
Other countries now on the wrong side of Baden-Württemberg's rules include Finland, Latvia, and Greece. In the case of the US, it ran afoul of guidelines because it hasn't ratified several treaties such as those involving women's rights and certain kinds of weapons, Bloomberg said., which tracks the empowerment of women and girls.
Trump also withdrew the US from the Paris climate agreement, but the US rejoined it when President Joe Biden took office.
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