Utah - Consumers' Research

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<< ESG Actions

Executive and Legislative Actions

Letter from Utah state officials objecting to S&P Global Ratings use of ESG criteria in state credit ratings

Legal Actions

23 States Provided Comment to the U.S. Department of Labor in Response to the Proposed Rule “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights” that would allow ERISA to make ESG considerations for investments.

- AG
- Treasurer
- Auditor

23 States Provided Comments to OCC Regarding the Proposed Principles “Risk Management: Principles for Climate-Related Financial Risk Management for Large Banks”

- AG
- Treasurer
- Auditor

24 States Provided Comments to the MSRB in Response to the “Environmental, Social and Governance (ESG) Practices in the Municipal Securities Market”

- AG
- Treasurer
- Auditor

Letter from Utah state officials objecting to S&P Global Ratings use of ESG criteria in state credit ratings
- Gov
- Lt. Gov
- AG
- Treasurer
- Auditor
- Senator
- Senator
- Congress 1st
- Congress 2nd
- Congress 3rd
- Congress 4th
- State Senate President
- Speaker State House of Reps

23 States Provided Comments Submitted to U.S. Department of Labor Requesting Information on Possible Agency Actions to “Protect Life Savings and Pensions from Threats of Climate Related Financial Risk”
- AG
- Treasurer
- Auditor

18 AGs Open Investigation into ESG Ratings Company Morningstar and its Subsidiary Sustainalytics

Letter to Morningstar and Sustainalytics
- AG

19 AGs Sent a Letter to BlackRock Calling Out Their ESG Practices with State Pension Investments

Letter Sent to Larry Fink, CEO of BlackRock
- AG

21 AGs Provided Comment to the SEC Proposed Rule “Enhanced Disclosures by Certain Investment Advisers and Investment Companies about Environmental, Social, and Governance Investment Practices”
- AG

17 Attorneys General Send Letter to Comptroller of the Currency (OCC) Hsu Regarding the Appointment of the Climate Risk Officer and the Misguided Focus on “Climate-Related Financial Risk”
- AG

14 Attorneys General and Consumers’ Research file motion with FERC to prevent Vanguard from authorization to purchase energy shares
- Motion Filing FERC from 14 AGs

Motion Filing to FERC from Consumers’ Research
- AG

18 States Send Letter to President Biden Opposing Nominee Saule Omarova to U.S. Comptroller of the Currency because of her Radical Views on Controlling the Private Banking Sector
- Auditor

18 States Send Letter to President Biden Opposing Nominee Saule Omarova to U.S. Comptroller of the Currency because of her Radical Views on Controlling the Private Banking Sector
- Treasurer

16 States Send Letter to U.S Banks Encouraging Unbiased, Nonpolitical Financing of Industries
- Treasurer
- Auditor

21 States Send Letter to President Biden Proposing Nominee Sarah Bloom Raskin for Federal Reserve Bank Due to Her Radical Beliefs in Shaping the Financial Industry through a Political Lens
- Auditor

21 States Send Letter to President Biden Proposing Nominee Sarah Bloom Raskin for Federal Reserve Bank Due to Her Radical Beliefs in Shaping the Financial Industry through a Political Lens
- Treasurer

23 States Signed Letter to President Biden Declaring the Importance of America’s Energy Independence
- Treasurer
- Auditor

18 States Provided Comments to SEC Proposed Rule on “The Enhancement and Standardization of Climate-Related Disclosures for Investors”
- Auditor
- Treasurer

16 States Provided Comments submitted to FDIC Proposed Principals on the “Statement of Principles for Climate-Related Financial Risk Management for Large Financial Institutions”
- Treasurer
- Auditor

17 States Send Letter to Morningstar raising concerns about ESG ratings negatively impacting companies with connections to Israel
- Auditor

UT Treasurer Oaks Divests $100 Million in State Funds from BlackRock
- Treasurer

21 Attorneys General Send Letter to 53 Financial Institutions Threatening to Take Legal Action if these Firms Do Not Keep Their Clients’ Interest Ahead of Politcial Agenda at Forefront of Investing
- AG

Utah Attorney General Files Lawsuit Against the National Association of Attorneys General Asking for Clarity on their use of Public Funds in ESG Investments
- Lawsuit

16 AGs demand Biden Admin reverse course on progressive climate policies leading to SVB collapse
- AG

25 State AGs slam SEC proposed rule on NACs as unlawful and bad policy

16 Attorneys General Send Letter to BlackRock Demanding Answers for its ESG activism and Violation of Fiduciary Duty

16 AGs Probe Wells Fargo for Debanking

19 State Attorneys General file complaint with the Federal Energy Regulatory Commission Challenging the Federal Government for Overstepping Authority and Forcing Costly “Green Energy” Transition on States

20 State Attorneys General Send Letter to Treasury Secretary Janet Yellen objecting to Biden/Harris Admin Stance on Debanking Practices

19 State Attorneys General file complaint with the Federal Energy Regulatory Commission demanding private asset managers be prevented from purchasing ownership stake in public utility companies

17 AGs file motion to stop BlackRock from using utility companies to push ESG agenda

23 AGs put companies on notice Net Zero alliances could mean Antitrust Violations

22 AGs Demand Answers Over Climate Group Antitrust Violations

24 State Attorneys General Send Letter to 25 Asset Managers Questioning Their ESG Support

22 Attorneys General Question Nasdaq’s Compliance with Anti-Discrimination Laws

21 Financial Officers from 19 states Fire off Letters Supporting Exxon’s Defense against Activist Investors

19 Attorneys General Send Letter to JP Morgan Chase Bank CEO Warning Against Discrimination Towards Customers for Religious or Political Affiliation

Financial Actions

34 Financial Officers from 27 States Send Letter to President Biden calling him out on new Federal Housing Finance Agency Policy
- Treasurer
- Auditor

Nine State Financial Officers Send Letter to AT&T Board of Directors Requesting Documents to Investigate Any Violations to State or Federal Law Due to Discrimination Against Conservative Outlets
- Treasurer

22 State Financial Officers demand answers from Yellen on debt ceiling plan

23 State Financial Officers from 22 States sent letter to SEC urging Chairman Gensler to re-open comment period on Natural Asset Companies (NACs) rule in the NYSE

30 state financial officers send letter to SEC urging the rejection of a rule allowing the privatization of public lands

State Financial Officers Demand Answers on Proxy Votes Supporting ESG Agenda (Letter to BlackRock)

State Financial Officers Demand Answers on Proxy Votes Supporting ESG Agenda (Letter to ISS)

State Financial Officers Demand Answers on Proxy Votes Supporting ESG Agenda (Glass Lewis)

15 State Financial Officers Send Letter to BlackRock Board of Directors Questioning Their Impartiality

18 State Financial Officers send letter to ISS demanding clarification on how ESG Impacts Proxy Votes and Debanking

18 State Financial Officers send letter to Glass Lewis demanding clarification on how ESG Impacts Proxy Votes and Debanking

17 State Financial Officers Probe State Street’s continued ESG commitments

15 State Financial Officials Demand Action from Bank of America on Debanking Practices

14 state financial officers send letter to the Business Roundtable calling out its role in woke capitalism when they reoriented their focus from shareholders to “all stakeholders.”

26 state financial officers send letter to the Financial Accounting Standards Board (FASB) urging the organization to not politicize accounting principles to include climate disclosure reporting.

16 State Financial Officers Send Letter to ISS calling out the inclusion of ESG topics in their annual benchmark policy survey and Review

17 State Financial Officers Send letters to Walmart, Costco, Kroger, Albertsons, and McKessons urging them to disregard NYC Comptroller’s Demand to Carry abortion Pill

17 State Financial Officers Send Letter to Fortune 100 Executives Urging them to Abandon Discriminatory DEI Policies
- Utah – SB 96 and SB 97 – weak versions of fiduciary and economic boycott
- Both passed March 2023, Effective May 2023