While Florida and Texas rail against sustainability, Democrats and Republicans in other states are embracing it.
An increasing number of US states are starting to push back against the anti-ESG rhetoric emanating from the Republican Party and a few of its high-profile governors. Some are moving ahead with their own rules to address sustainability concerns and lower greenhouse gas emissions.
With Congress deadlocked for at least the next two years, state governments are now at the forefront when it comes to environmental legislation. In Minnesota, Governor Tim Walz, a Democrat, signed legislation establishing a statewide carbon-free electricity standard. In New Jersey, Governor Phil Murphy, also a Democrat, announced a series of steps aimed at achieving 100% clean energy by 2035.
A few Republican-dominated states are bucking their party’s anti-ESG messaging as well. Pension plan executives in Kentucky, where the parties split control of state government, said the state treasurer’s call for them to pull funds from financial-services firms deemed “hostile” to Big Oil violated their fiduciary duty. State officials in North Dakota, a Republican-controlled state, took a similar stand.
Bloomberg Green
By Tim Quinson
February 22, 2023