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Proposal by Republican treasurers, auditors, and a comptroller risks Americans’ hard-earned savings to placate Big Oil

Washington, D.C. — Earlier this week, a group of 22 Republican state financial officials baselessly called on the U.S. Securities and Exchange Commission and U.S. Department of Labor to restrict environmental, social and governance investing options for asset managers and retirement plans.

In response, Unlocking America’s Future Spokesperson Kyle Herrig said the following:

“Once again, Republican officials are putting their extreme political agenda ahead of the financial well-being of hardworking Americans. This latest attempt to strong-arm federal regulators into restricting responsible investing is nothing more than a blatant effort to score political points and further rig the system to benefit the fossil fuel industry and other deep-pocketed donors at the expense of retirees, workers, and investors.

“Americans deserve the freedom to make informed investment decisions that align with their long-term financial goals—and that’s why the Securities and Exchange Commission and Department of Labor should reject this shortsighted and dangerous push.”

Additional Background:

  • From Pensions & Investments: “A group of 22 Republican state financial officials are calling on the Securities and Exchange Commission and Department of Labor to issue new guidance and rules to restrict environmental, social and governance investing options for asset managers and retirement plans. The state officials, which include treasurers, auditors and a comptroller, sent a letter Jan. 28 to Vince Micone, acting labor secretary, and SEC acting Chair Mark Uyeda.”
  • The GOP state officials who signed the letter include:
  • Alabama Auditor Andrew Sorrell
  • Alaska Commissioner of Revenue Adam Crum
  • Arizona Treasurer Kimberly Yee
  • Idaho Treasurer Julie Ellsworth
  • Indiana Comptroller Elise Nieshalla
  • Iowa Treasurer Roby Smith
  • Kansas Treasurer Steven Johnson
  • Kentucky Auditor Allison Ball
  • Kentucky Treasurer Mark Metcalf
  • Louisiana Treasurer John Fleming
  • Mississippi Treasurer David McRae
  • Missouri Auditor Scott Fitzpatrick
  • Nebraska Auditor Mike Foley
  • Nebraska Treasurer Tom Briese
  • North Carolina Treasurer Brad Briner
  • Oklahoma Auditor and Inspector Cindy Byrd
  • Oklahoma Treasurer Todd Russ
  • South Carolina Treasurer Curtis Loftis
  • South Dakota Treasurer Josh Haeder
  • Utah Treasurer Marlo Oaks
  • Wyoming Auditor Kristi Racines
  • Wyoming Treasurer Curt Meier