Washington, D.C. – Today, Unlocking America’s Future is launching a six-figure digital ad campaign urging South Carolinians to tell their state lawmakers to reject House Bill 4699 and Senate Bill 1014, legislation that aims to dismantle responsible investing and prioritizes the interests of greedy billionaires over families trying to save for retirement in the Palmetto State.
“These bills are part of a broader, coordinated attack against responsible investing, backed by greedy billionaires aimed at benefiting the special interest groups from the oil and gas industry,” said Kyle Herrig, spokesperson for Unlocking America’s Future. “Research continues to show that responsible investments have comparable, if not better, financial returns to traditional funds with less downside risk, and these bills threaten the financial security of South Carolinians by restricting the investment practice.”
South Carolina is a key battleground state for the future of responsible investing. In 2023, the State Legislature passed harmful anti-ESG legislation, and many political leaders in the state are vocal opponents with backing from the oil and gas industry. The two bills are currently pending in the state’s General Assembly:
- HB4699: Introduced by State Representative Josiah Magnuson, the bill aims to restrict the state from offering incentives or subsidies to companies that engage in ESG practices. To date, 17 of 19 sponsors of the legislation are members of the South Carolina Freedom Caucus. Consumers Research, a national anti-ESG special interest group backed by rightwing judicial activist Leonard Leo, has helped fund the South Carolina Freedom Caucus.
- SB1014: Sponsored by Senator Josh Kimbrell, the bill would make it more difficult for financial advisors to tell retirees and business owners the true risks of the investments they’re making.
The anti-ESG debate in South Carolina also extends to federal policy. South Carolina Attorney General Alan Wilson, who has taken over $136K in campaign contributions from oil, gas, and extractive industries, is currently leading one of three lawsuits filed on behalf of 22 attorneys general attempting to kill the U.S. Securities and Exchange Commission’s (SEC) newly announced climate risk disclosure rule, which would require all U.S. publicly traded companies to disclose information about greenhouse gas emissions and climate-related risks in their registration statements and annual reports.
SCRIPT:
Greedy billionaires up here and politicians in here don’t want financial advisors to tell South Carolina retirees and business owners the true risks of the investments they’re making.
It’s all part of a plan to keep you from making the best decisions with your money. But here’s the thing … you earned that money, and you deserve to know the risks when you invest it.
Call South Carolina lawmakers and tell them to side with us and not billionaires.
Watch the full ad HERE.
