Phoenix, AZ – Yesterday, Governor Hobbs vetoed Senate Bill 1094, legislation that would have increased costs, undermined businesses’ ability to make decisions that protect their investments, and introduced more risk into the financial system for Arizonans. Governor Hobbs’ decisive action demonstrates her commitment to putting constituents first—protecting their economic security and financial autonomy.
Senate Bill 1094—deceptively framed as protection against financial “discrimination”—threatened to force financial institutions to disregard critical risk factors in their investment and lending decisions. This politically motivated legislation could have created artificial and avoidable blindspots in Arizona’s financial system, potentially destabilizing Arizona’s financial landscape and exposing Arizona businesses and families to unnecessary risks.
“Governor Hobbs’ veto of Senate Bill 1094 marks a decisive win for Arizonans and demonstrates her commitment to putting people before political agendas,” said Kyle Herrig, Spokesperson for Unlocking America’s Future. “By blocking this dangerous legislation, the Governor has protected Arizona families and businesses from higher costs and more risk in the financial system, supporting Arizona’s economic growth and stability.”
Why Responsible Investing Matters for Arizona’s Economy:
- Lower Costs for Families: Responsible investments often prioritize long-term sustainability that reduces costs over time, from energy-efficient infrastructure to climate-resilient development.
- Increased Competitiveness: Many companies headquartered or operating in Arizona already incorporate responsible investing factors to remain competitive globally and attract investment capital.
- Job Creation: The transition to sustainable technologies creates new, high-paying jobs in renewable energy, water conservation, and other future-focused industries critical to Arizona’s growth.
- Risk Management: Considering environmental and social factors helps investors avoid costly risks, protecting retirement savings for public employees and state investments.
More information about Senate Bill 1094 and its impact can be found here. To speak with a business leader or UAF spokesperson about this legislation, please email us at press@unlockingamericasfuture.org.
