Taxpayers Could Lose $700 Million From Anti-ESG Policies

Taxpayers in six states could lose more than $700 million because of Republican officials’ boycotts of firms that consider environmental, social, and (corporate) governance factors in their investment decisions, a new report from Econsult Solutions finds. The legislation enacted in Kentucky, Florida, Louisiana, Oklahoma, West Virginia, and Missouri spawned out of model legislation pushed by ALEC and a network of fossil fuel-funded dark money groups. “This report highlights the potential multi-million-dollar economic burden on both residential taxpayers and businesses in states that are taking or considering actions to limit climate and other ESG [environmental, social and governance] considerations within their municipal bond work,” Steven Rothstein, a managing director at Ceres, said in a statement. (E&E $, Politico, Reuters, News from the States, ImpactAlpha $)