Author: James McAllister
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Oklahoma AG appeals ESG ruling to state Supreme Court
What’s the story? Oklahoma Attorney General Gentner Drummond (R) filed an appeal with the state Supreme Court seeking to overturn a lower court’s ruling against the state’s anti-ESG law. The statute prohibits state contracts and investments with asset managers who—in the state treasurer’s view—boycott the fossil fuel industry. Why does it matter? Oklahoma’s decision on…
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ESG policy debated in state treasurer races
Voters in 10 states will vote on their treasurer next week. Voters in 8 states will vote on their auditor. State treasurers oversee state investments, such as public pension funds, making them responsible for deciding if their respective states will incorporate ESG strategies into their portfolios. Additionally, both treasurers and auditors commonly have roles implementing…
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ESG critics testify in favor of Texas anti-ESG law
Two ESG opponents—William Hild (the executive director of Consumers’ Research) and Eric Bledsoe (a senior fellow at the Foundation for Government Accountability)—gave testimonies before the Texas Senate on Oct. 17. They argued the state’s anti-ESG laws produced positive results and said non-ESG investment funds tend to outperform investments that consider other factors. Ballotpedia tracks support…
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Republican states pass 17 anti-ESG laws, Democratic states pass 8 pro-ESG in 2024
States passed 32 bills either supporting or opposing ESG investing in 2024. ESG investing is an asset management approach that considers the environment, social issues, and corporate governance practices. It’s a type of stakeholder investing, which argues shareholder returns should not be the only goal. Stakeholder investing contrasts with traditional approaches that exclusively consider financial…
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Alabama auditor argues ESG hurts agriculture
Alabama State Auditor Andrew Sorrell (R) argued in an op-ed published Oct. 13 that ESG threatens farmers—especially those in his state. Sorrell said environmental regulations and corporate policies would increase farming costs and damage large agricultural industries. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn…
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Missouri withdraws appeal in ESG lawsuit
Missouri Attorney General Andrew Bailey (R) announced the state will withdraw its appeal of a court ruling overturning two anti-ESG investment rules. The rules would have penalized asset managers who invested based on ESG factors without the written consent of their clients. The withdrawal leaves the constitutional question for similar rules unsettled in U.S. courts.…
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U.S. House passes two bills opposing ESG
The House of Representatives passed two bills opposing ESG on Sept. 18 and Sept. 19. HR 5339 would require fiduciaries to make investment decisions based on financial factors. HR 4790 proposed limiting the Securities and Exchange Commission’s (SEC) climate risk disclosure requirements. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance…
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Missouri appeals federal court ruling blocking anti-ESG law
Missouri Secretary of State Jay Ashcroft (R) on Sept. 13 appealed the recent federal court decision that invalidated two of the state’s anti-ESG investing rules, published last year. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against, and about ESG, click…
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Republican treasurers argue against world’s largest proxy advisor
Fifteen Republican state treasurers sent a letter to Institutional Shareholder Services (ISS)—the world’s largest proxy advisory service—on September 5, arguing the company’s proxy recommendations were biased, citing a report by Consumers Research. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against,…
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State treasurers argue corporations should focus on shareholder value
A group of Republican state treasurers sent a letter on Aug. 28 asking the Business Roundtable to change its 2019 statement defining the purpose of corporations. The treasurers argued the definition deprioritized shareholder interests in profit and risk management and promoted ESG investing. Ballotpedia tracks support for and opposition to the environmental, social, and corporate…