WASHINGTON – Heritage Action, a conservative grassroots organization with two million grassroots activists, including thousands of Arizonans, released the following statement from Janae Stracke, Vice President of Field Operations, supporting the Arizona Legislature’s efforts to protect Arizona public funds from the ESG movement by passing SB 1500, despite Governor Katie Hobbs’s veto of the bill. This legislation would have clarified fiduciary duty and required that asset managers only consider financial factors when making investment decisions.
“By vetoing the Arizona Legislature’s historic passage of SB 1500, Governor Hobbs chose to put radical left-wing politics and the weaponization of the ESG movement ahead of protecting Arizonans’ investments. The Left uses ESG to force its radical policy agenda on American businesses, workers, and families, only to produce lower returns on investments and raise costs for consumers. Specifically, SB 1500 would have clarified fiduciary duty and required that asset managers only consider financial factors when making investment decisions.
Heritage Action commends and thanks the Arizona Legislature for standing up for Arizona businesses, workers, and families against the ESG movement and passing SB 1500. We look forward to working alongside grassroots Arizonans to keep up the fight against ESG and get legislation passed that will protect public funds and ensure they are invested in Arizona values.”
BACKGROUND:
Heritage Action: ESGHurts.com