Treasurer says his office determined ESG banned institutions

For the second time in a week, Oklahoma State Treasurer Russ Todd is publicly defending his enforcement of Oklahoma’s anti-ESG law, enforcement that has been challenged in a lawsuit pushed by the Oklahoma Public Employees Association.

In a corrected release on Tuesday, Todd again said his office plans to continue improving Oklahoma’s economy and public investments through time-tested strategic.

“Keeping ESG out of investing is necessary due to its broad goal complexity, unmanageable reporting framework and heavy-handed mandates,” declared the Treasurer.

He made it clear that the recent decision by the board of trustees of the Teachers’ Retirement System to divest $184 million in pension funds was made because certain financial institutions were deemed “by my office” to be supporting ESG causes negative to Oklahoma industries.

A hearing on the lawsuit against Todd and his office will be held Friday before an Oklahoma County District Court Judge. The suit seeks a restraining order against the Treasurer’s enforcement of the 2022 Act.

Source: press release