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Alabama Senate committee advances bill opposing ESG (2023)
| Environmental, social, and corporate governance |
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
The Alabama Senate Committee on Fiscal Responsibility and Economic Development overrode objections from the state’s bankers and Democrats and advanced an ESG bill that would prevent state entities from doing business with financial companies that boycott specific sectors of the economy:
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Some Alabama companies don’t want to do business with other companies that aren’t meeting certain environmental, social and governance criteria. And now some lawmakers in the state of Alabama are making it known that they don’t want to do business with those companies. It would prevent all governmental entities in the state from entering into contracts with such companies, with some exceptions. The Alabama Senate committee on fiscal and responsibility and economic development ultimately approved the bill, SB261 by Sen. Dan Roberts, R-Mountain Brook, on a 10-3 vote along party lines. The bill is essentially a boycott of a boycott. The legislation sets out particular sectors that cannot be “economically boycotted” by other companies who hope to contract with the state. The sectors include fossil fuels, timber, mining, agriculture and firearms and ammunition manufacturers. It also precludes companies from boycotting companies who are not committed to meet environmental standards, particularly regulations to offset, reduce or eliminate greenhouse gas emissions. Or companies that doesn’t meet certain composition, compensation, or disclosure criteria. Or companies that don’t facilitate access to abortion, sex or gender change surgery, medications, treatment or therapy. “We’re trying to ensure that Alabama’s tax dollars will not be used to subsidize private entities that boycott law-abiding businesses for reasons relating to arbitrary or subjective standards,” Roberts said. “I think we’re starting to see it on a national front … We’re trying to stop is a movement that’s going on in the United States that’s commonly referred to with environmental social governance.”[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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