States passed 32 bills either supporting or opposing (ESG) investing in 2024

By

Ethan Sorell

Welcome to the Wednesday, Nov. 13, Brew. 

By: Ethan Sorell

Here’s what’s in store for you as you start your day:

  1. States passed 32 bills either supporting or opposing environmental, social, and governance (ESG) investing in 2024 
  2. A look at how the candidates who ran in rematches fared this year 
  3. A look at some of the noteworthy candidates who completed Ballotpedia’s Candidate Connection survey

States passed 32 bills either supporting or opposing environmental, social, and governance (ESG) investing in 2024 

In case you’re not familiar, here’s a quick background on ESG. ESG investing is an asset management approach that considers environment, social issues, and corporate governance practices. It’s a type of stakeholder investing which says shareholder returns should not be the only goal. Stakeholder investing contrasts with traditional approaches that exclusively consider financial factors like balance sheets, income statements, and valuations to maximize risk-adjusted returns (also known as shareholder investing). To learn more about ESG and commonly considered investing factors, click here.

States passed 32 bills this year either supporting or opposing environmental, social, and governance (ESG) investing. States approved 45 such laws in 2023, 17 in 2022, 13 in 2021, and three in 2020. 

States with Republican trifectas primarily enacted legislation opposing ESG investing, while states with Democratic trifectas primarily enacted legislation supporting ESG investing. Of the 32 bills passed in 2024, 17 opposed ESG in Republican trifectas, and eight supported ESG in Democratic trifectas. The remaining bills were passed in divided governments or fell outside the scope of our ESG bill analysis. 

Let’s take a closer look at states’ ESG approaches with respect to their trifecta status and examine which states have been the most and least active on ESG this year.

States with Republican trifectas opposing ESG

Twenty-three states currently have Republican trifectas, and 10 enacted legislation opposing ESG. In those 10 states:

  • Five passed anti-discrimination laws prohibiting banks and government agencies from using ESG scores (also known as social credit scores) to determine individual or business eligibility for financial services.
  • Four passed sole fiduciary laws prohibiting or discouraging officials or advisers managing funds on behalf of a state from considering ESG factors in public investments (like pension funds).
  • Four passed anti-boycott laws prohibiting the state from contracting with or investing in companies that intentionally boycott certain companies or industries without a business purpose.
  • Two passed public disclosure requirement laws requiring additional transparency on the ESG policies, investments, and considerations of state investment boards and other government agencies.

The map below shows which Republican trifecta states enacted the most types of legislation opposing ESG in 2024:

States with Democratic trifectas supporting ESG

Seventeen states have Democratic trifectas, and four passed laws supporting ESG. In those states:

The map below shows which Democratic trifecta states enacted the most types of legislation supporting ESG in 2024:

Additional reading

  • For comprehensive analysis and details on ESG legislation by trifecta status, click here.
  • To learn more about ESG, click here. 
  • For more information on areas of disagreement and inquiry related to ESG, click here.

Additionally, Ballotpedia’s Economy and Society newsletter covers developments in the world of ESG and hits inboxes every Tuesday.

Keep reading 

A look at how the candidates who ran in rematches fared this year 

In October, we told you about the races where voters would choose between the same candidates they did the last time that seat was up for election. Now, let’s take a look at the results of some of those rematches.

U.S. House

Let’s start with the U.S. House, where there were 75 rematches between candidates who last ran against each other in 2022. So far, two of those rematches have resulted in a different outcome than the last time the candidates faced off. Both are in New York. 

This figure could rise as the results of the races for Alaska’s At-Large Congressional District and California’s 13th Congressional District are still pending.

There were more rematches this year than in the previous two election years. There were 51 rematches in 2022 and 56 in 2020. In 2022, one rematch resulted in a different outcome. In 2020, five rematches resulted in different outcomes.

State executive offices

Three rematches occurred between candidates who last ran against each other in either 2022 or 2020. All of those rematches resulted in the same outcome.

There were five rematches for executive offices in 2022 and one rematch in 2020. None of those rematches resulted in a different outcome.

State legislative offices

There were 47 rematches this year for single-seat offices between the same candidates who last ran against each other in either 2022 or 2020. So far, 13 races have resulted in different outcomes than the last time the candidates faced off.

  • Each of the following states had one rematch with a different outcome: Arkansas, Hawaii, Iowa, Kansas, Maine, New Hampshire, Rhode Island, Texas, and Vermont.
  • In Connecticut and Idaho, two rematches resulted in different outcomes, respectively.
  • The outcomes of 10 rematches resulted in a chamber gaining a Republican member, and three resulted in a chamber gaining a Democratic member.

This figure could also change depending on the results of 45 races that remain uncalled.

Looking back at 2022, there were 268 rematches, 16 of which resulted in different outcomes. In 2020, there were 342 rematches, 29 of which resulted in different outcomes.

Local offices

At the local level, there were 52 rematches between candidates in our coverage scope who ran against one another in either 2022 or 2020. Seven of those rematches had different outcomes:

Twenty-two races remain uncalled.

There were 34 rematches for local offices in 2022 and three in 2020. Of those races, one resulted in a different outcome.

Keep reading 

A look at some of the noteworthy candidates who completed Ballotpedia’s Candidate Connection survey 

Since the beginning of the year, over 6,500 candidates have completed our Candidate Connection survey. The survey helped thousands of voters learn more about the candidates running for congressional, state executive, state legislative, judicial, school board, and municipal offices on Nov. 5. 

Here are a few of the noteworthy candidates who won elections on Nov. 5 and completed the survey. 

Josh Stein (D), North Carolina’s next governor

Stein, North Carolina’s attorney general since 2016, defeated Mark K. Robinson (R), Wayne Turner (G), and Mike Ross (L) in the general election to replace Gov. Roy Cooper (D), who was term-limited. 

Stein won 53.4% of the vote. 

Stein wrote in his Candidate Connection survey: “I love North Carolina, and I believe in the promise of this state that if you work hard, where you come from should not limit how far you can go. I am running for Governor to deliver on that promise by investing in our people and their futures and building a state with a thriving economy, safe communities, and strong schools. As Governor, I will work to deliver the economic security and peace of mind that every North Carolinian deserves by lowering costs, raising the minimum wage, and cutting taxes for working families. I will work to build safe communities by confronting the fentanyl crisis and recruiting and retaining well-trained, public-spirited law enforcement officers. And I will recommit our state to investing in our public schools.”

This election was one of our battlegrounds. Learn more here. 

Gabe Evans (R), candidate for U.S. House Colorado District 8

Evans, a member of the Colorado House of Representatives, is running for Colorado’s first new congressional district since 2001. Evans has 49% of the vote to incumbent Rep. Yadira Caraveo’s (D) 48.2%. Although the race has not been officially called, Caraveo conceded to Evans last Sunday. 

In his Candidate Connection survey, Evans listed the Bible and J.R.R. Tolkein’s The Silmarillion as his favorite books. 

This election was one of our battlegrounds. Learn more here.

Stacy Garrity (R), Pennsylvania Treasurer

Garrity, who first assumed office in 2021, ran for re-election, defeating Erin McClelland (D), Nickolas Ciesielski (L), Troy Bowman (Constitution Party), and Chris Foster (Forward Party). Garrity received 52.1% of the vote. 

In her Candidate Connection survey, Garrity wrote, “As with many public offices, I believe that the discipline I acquired as a member of the United States military, in which I rose to the rank of colonel, provides an important insight into work-ethic and sense of public service. As such, military experience, while not absolutely necessary, has provided an important quality to the leadership I have worked to bring to this office.”

This election was one of our battlegrounds. Learn more here. 

Kyra Harris Bolden (D), judge on the Michigan Supreme Court

Bolden defeated Patrick W. O’Grady in the special general election for the Michigan Supreme Court. Gov. Gretchen Whitmer (D) appointed Harris Bolden to the state supreme court in 2022 to fill a vacancy.

Bolden defeated O’Grady 61.5%-38.5%. Grady also completed Ballotpedia’s survey. 

Bolden’s victory helped Democrats expand their majority on the court from 4-3 to 5-2. 

In her Candidate Connection survey, Bolden said, “I have a deep commitment to service and ensuring that all children, from all walks of life, grow up with the justified belief that they can do anything they put their minds to. My hope is as the first African American woman on Michigan’s highest bench, I can instill that mindset in our children. I do not subscribe to a particular judicial philosophy, instead I use all the information available to me to make the best decisions possible.”

This election was one of our battlegrounds. Learn more here.

Learn more about our Candidate Connection survey below. 

Keep reading