Deep red state proposal triggers anti-ESG policy debate

Oklahoma’s state treasurer raises concerns about the legislation that he says can open the door to the controversial practice of “environment, social and governance” in the deep red state.

The Senate Bill 714 amended the Energy Cancellation law for the year 2022 to remove the “enforcement body” of the treasurer of the law and give it the state prosecutor’s office.

The treasurer maintains a list of many banks that cannot do business with the government of Oklahoma if the institution has publicly expressed opposition from oil and gas companies.

Critics argue that drafting in the legislation will reduce the criteria necessary for the institution to be in the list and how agencies are implemented.

The leader of the red state calls to stand behind Trump’s ban on financing illegal immigration

“The draft law actually removes the treasurer from overseeing investment behaviors of large financial institutions and suggests its status under the Public Prosecutor’s office,” said the Todd Ross, treasurer of Oklahoma Todd Ross, in relation to the Senate 714.

“As a constitutional employee in the state treasurer in Oklahoma, why do you want a person who does not have a constitutional commitment and a commitment to supervise financial investments and state affairs to be under the treasury and transfer them to a different constitutional office?” He continued.

The State Law 2022 faces “ongoing” legal challenges, making its fate unclear. The law aims to avoid supporting institutions that some leaders see aspire to harm the energy industry in the state.

Reduction of the Red Power Development, overcoming China in the top priorities of “AI Arms Race” for nations conservatives “

“Over the years, these issues have become very miserable. I mean, it is not a financial issue. It is a social agenda who woven in investments,” Ross said about ESG.

“Oklahoma does not try to enter the other side of this behavior. We are trying to take a position to say,” Look, stay outside the political arena with my investments. Our investments. ”We are only interested in financial performance and profits of our investments, and we do not want people to use for political influence.

The Republican Governor in Wyoming, Mark Gordon, has increased spending as oil, gas and budget surplus revenues leave the state in an ideal financial position. (AP Photo/J. David Ake, File)

Fox Business reported in 2023 that the list of Russles resulted from inquiries about energy investment practices to many banks, and it prevents banks in the list from participating in the major country investments such as pension funds.

“This draft law is only necessary due to the failure of the glory treasurer to defend the law of discrimination in Oklahoma in 2022 successfully. This was the real savory in the face of the oil and gas industry,” said the Office of the Prosecutor in Oklahoma Gintner Dramund.

“The law prohibits state contracts and investments of the pension system with financial institutions that are distinguished against the oil and gas industry.”

The Minister of Energy reveals the “Akbar” challenge facing the Trump official

The oil factor is moving towards the drilling platform after putting the Earth’s monitoring equipment near the horizontal pits underground in the province of Leuven, Texas. (Reuters/Angus Mourdant)

Click here to get the Fox News app

Dave Rader Republican Senator, the sponsor of the bill, told the Fox News Digital in an email to make some amendments to the legislation, including “clarifying more definition of the District County Company to clarify that the purpose of the bill is to eliminate the proposals of shareholders that are punished or damaged, which increases the definition. [and] Eliminate the inclusion of the costs of transactions when determining the loss that the delay is supposed to keep the investments to be withdrawn indefinitely. ”

However, the proposed amendments to Dader in the email have not yet been made, according to the legislative authority website in Oklahoma, where the legislative text is presented.

The legislation will need to go to vote in the full Senate by March 27 before heading to the state parliament.