OKLAHOMA CITY – Financial companies that boycott the energy industry are pushing "anti-American" political agenda, Oklahoma Gov.
Kevin Stitt told Fox News. "ESG is kind of rewriting how you invest. Instead of focusing on value for your shareholders, it's more of a political agenda," the governor said. "It breaks down the free market principles of capitalism that we're used to in investing and so it's anti-American." Environmental, social and corporate governance — commonly referred to as ESG — are non-financial standards applied to firms and can be used by asset managers in their decision-making surrounding investments.
Firms with low emissions or progressive policies surrounding issues like diversity receive higher scores. Proponents have argued that ESG scores will push companies to adopt more environmentally friendly and progressive policies, while critics say using them to determine investments harms essential fossil fuel industries and raises energy prices.
ESG standards are "anti-American" Oklahoma Gov. Kevin Stitt told Fox News. (Fox News Digital/Jon Michael Raasch) "As the governor, I'm trying to protect our assets," Stitt said. "We are a heavy energy state." Oklahoma is among the top five largest producers of natural gas, oil and wind energy in the U.S, according to the U.S.
Read more on foxnews.com