Indiana Treasurer Candidates Clash Over ESG, Investment Transparency
Indiana's Nov. 3 treasurer election pits Republican incumbent Daniel Elliott against Democratic challenger Coumba Kebe, who has a decade of experience in Medicaid and senior care budget management. Elliott touts nearly $1.8 billion in state investment earnings during his first term and has championed restrictions on ESG investing, including placing BlackRock on a watchlist that led Indiana's pension board to drop the firm from a roughly $969 million portfolio. Kebe argues that ESG-related moves may not serve taxpayers financially and is calling for greater transparency on the costs and risks of such decisions, saying her Medicaid-sector background gives her a different lens on statewide financial choices. The treasurer manages over $16 billion, oversees the Bond Bank, 911 Board, and state police pension trust, and plays a role but does not set the state budget.