SCR 9: Utah Resolves to Protect Customers from Harmful ESG Investing

March 14, 2023

Summary

Senate Concurrent Resolution 9 was enacted in March 2023 and urges the state to defend consumers and investors from harms caused by ESG investing. The resolution contends ESG investing harms consumers because it "promotes societal goals" that "change substantially based on political agendas . . . without the appropriate checks, balances, and accountability present in the legislative bodies created to address these issues." It criticizes ESG investing for contributing to the increased cost of capital for carbon-intensive projects, resulting in higher energy prices. The resolution calls on the state auditor, treasurer, and attorney general to enforce a prohibition on state ESG investments.

 

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