Nebraska Just Took a Sledgehammer to the ESG Machine Behind Corporate America

Ben Smith· May 21, 2026 · 12:00 PM UTC ·4 min read · 0 reactions · 0 comments · 21 views

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Nebraska Attorney General Michael Hilgers has filed a lawsuit against Institutional Shareholder Services (ISS), accusing the firm of promoting climate and diversity agendas while misleading clients. The lawsuit is supported by attorneys general from at least 17 states, highlighting concerns over foreign influence in corporate governance. ISS and its competitor Glass Lewis control a significant portion of the proxy advisory market, raising questions about their practices and transparency.

Key facts

▪Nebraska's lawsuit claims ISS misled investors by presenting advocacy as neutral advice.
▪The lawsuit is backed by attorneys general from at least 17 states, forming a coalition against ISS and Glass Lewis.
▪ISS allegedly coordinated its recommendations with activist groups without disclosing this to clients.

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Original publisher	RedState
Canonical URL	https://redstate.com/ben-smith/2026/05/21/nebraska-just-took-a-sledgehammer-to-the-esg-machine-behind-corporate-america-n2202557
Publication time	Thu, 21 May 2026 08:00:52 -0400
Retrieval time	2026-05-21T12:11:11.063Z
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Opening excerpt (first ~120 words) tap to expand

Nebraska Just Took a Sledgehammer to the ESG Machine Behind Corporate America By Ben Smith | 8:00 AM on May 21, 2026 The opinions expressed by contributors are their own and do not necessarily represent the views of RedState.com. AP Photo/Nati Harnik, File Two foreign-owned firms have been quietly running American boardrooms. Now a coalition of state attorneys general is moving to stop them. Nebraska Attorney General Michael Hilgers filed a lawsuit Tuesday against Institutional Shareholder Services (ISS), accusing the firm of pushing climate and DEI agendas on corporate America while telling its clients it was giving them straight, neutral advice. Attorneys general from at least 17 states are backing the effort.

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