Utah legislators took aim this week at companies they fear are distorting financial markets with their environmental and social agendas, but the legislation they rolled out doesn’t appear to affect how Utah currently does business.
The anti-woke rhetoric was thick on Capitol Hill, but the bills would change little in how funds are managed and contracts are awarded in Utah.
The bills are the culmination of months of legislative effort. There were more than 35 bill requests for anti-ESG legislation, but only four made it to introduced bills. State Treasurer Marlo Oaks is pleased with legislation aimed at restricting ESG investments, even though he acknowledges none of the bills would change the way Utah does business. Here, Oaks addresses fellow Republicans at the Davis County Republican nominating convention at Farmington High School, on Saturday, March 26, 2022.essentially opens a new front in the anti-ESG battle by relying on an antitrust argument.
“It started with the UN,” said Ivory, “and it’s branched out to others in what we’re coming to see as ESG and other actions where major companies sign into things known as Glasgow Financial Alliance, The Net Zero Bankers Alliance, the Net Zero Asset Management Alliance, The climate 100. They actually sign pledges to dry up capital, products and services they don’t like for a political agenda.”members of the United Nations Net Zero Bankers Alliance.
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