Oklahoma’s state treasurer is raising concerns about legislation he says could open the door further for the controversial practice of “environmental, social and governance” in the deep red state.
Senate Bill 714 would amend the Energy Discrimination Elimination Act of 2022 to take away the treasurer’s “enforcement authority” of the law and give it to the state Attorney General’s office.
The treasurer maintains a list of several banks that cannot do business with the state government of Oklahoma if the institution has publicly expressed opposition to oil and gas companies.
Critics argue that wording in the legislation would lower the standards necessary for an institution to be on the list and how agencies enforce it.
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The BlackRock logo outside its offices in New York City. (Reuters/Brendan McDermid/File Photo)
“The bill actually removes the treasurer from oversight of the investment…
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