A new report by The Frontier contends that more than half of the 13 financial companies recently banned from doing state business over their ESG efforts fell outside Oklahoma’s 2022 state law.
The journalism group found that seven of the companies are not publicly traded and the state law states that in order to be considered a “financial company” such a firm must be publicly traded.
In an interview with The Frontier, Oklahoma State Treasurer Todd Russ said he chose to add private firms on the list anyway because of a section in the law that requires any state or local government entity from entering into contracts with any company that doesn’t certify they aren’t boycotting the oil and gas industry.
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