Idaho legislature prepares bills to prohibit ESG investing with public money (2022)
| Environmental, social, and corporate governance |
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Republicans in Idaho’s legislature are preparing to join a growing group of state-level elected officials seeking to insulate their states against ESG, according to the Idaho Capital Sun:
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Idaho Republican legislators and state officials are preparing bills for the upcoming 2023 legislative session that would be designed to further restrict using environmental, social and governance standards in public funding or investments. The Idaho Legislature’s Joint Interim Committee on Federalism discussed legislation to limit or block environmental, social and governance, or ESG, standards during a meeting Monday at the Idaho State Capitol in Boise. The meeting was likely the final legislative meeting before a new crop of 39 first-time legislators are sworn in next week during the organizational session for the 2023 legislative session. During Monday’s Committee on Federalism meeting, Rep. Baraba Ehardt, R-Idaho Falls, described meeting with U.S. Sen. Mike Crapo, R-Idaho, Idaho State Treasurer Julie Ellsworth, state Rep. Sage Dixon, R-Ponderay, and state Sens. C. Scott Grow, R-Eagle, and Doug Ricks, R-Rexburg, while drafting a bill. Ehardt also said she has traveled to conferences to work on the bill. Members of the Committee on Federalism had previously met with the director of the Free Enterprise Project and a chief economist with the American Legislative Exchange Council about ESG in June…. Ehardt and Ellsworth said they are not looking to stop private businesses from investing the way they want to. “Any legislation that I am working on deals with public monies,” Ellsworth told the committee. “This is an important concept and a very important distinction. This is not about the private sector. It’s about public monies. If you are going to be a credit union or bank that is seeking to do business with the state of Idaho … you cannot override for ESG purposes and boycott legal operating businesses in our state and still qualify as a depository for the state of Idaho.” Ehardt and Ellsworth said their legislation is not yet in final draft form, and they did not share copies of their bill.[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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