WASHINGTON—Heritage Action, a conservative grassroots organization with two million activists nationwide, including thousands of Oklahomans, lauds the Oklahoma House for passing HB 1617 and HB 3541.
Together, the bills will protect Oklahomans’ savings and economy from the harmful impacts of environmental, social, or governance (ESG) criteria by requiring asset managers to uphold their fiduciary responsibilities and prohibiting state contracts with certain companies that engage in political boycotts.
Heritage Action Oklahoma State Director Rebekah Warwick released the following statement:
“The Left’s extreme ESG agenda puts politics over financial stability, threatening both the jobs and savings of hard-working Oklahomans.
“HB 1617 ensures the savings of Oklahomans are invested solely based on the financial interests of retirees, promoting the wellbeing of pensioners over the political bias of money managers.
“HB 3541 defends the agriculture industry and other key pillars of Oklahoma’s economy from discriminatory political boycotts. Oklahoma’s 85,0000 farms must be able to operate and feed their communities without the crushing, costly, and unrealistic demands of the ESG movement.
“Heritage Action applauds the Oklahoma House for passing HB 1617 and HB 3541, taking a significant step to fight the Left’s thinly-veiled attempt to force its agenda on families and businesses. We look forward to continuing our work alongside Oklahomans to get this legislation through the Senate and to Governor Stitt’s desk.”
ESG policies are the Left’s latest political tool to use businesses and financial institutions to advance progressive ideology in American society.
The Oklahoma House’s passage of HB 1617 and HB 3541 builds on the nationwide pushback against the harms of the ESG movement. Oklahoma joins more than 15 states prioritizing Americans’ financial wellbeing over the Left’s political agenda.
BACKGROUND:
The Heritage Foundation: Why Corporate Environmental, Social, and Governance Enforcement Is Self-Reinforcing Scam
Heritage Explains: The ESG Pushback
Heritage Action: ESGHurts.com