North Carolina governor vetoes ESG bill (2023)
| Environmental, social, and corporate governance |
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North Carolina Governor Roy Cooper (D) on June 23 vetoed the anti-ESG bill sent to him by the state legislature. Cooper’s veto was expected, but the state legislature is expected to overturn the veto:
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North Carolina Gov. Roy Cooper vetoed on Friday the General Assembly's annual farm measure and another bill that would prevent state government activities like pension investing from being directed based on environmental or social justice concerns. The vetoes bring the Democratic governor's total for the year to eight. Next, the two latest likely will be subjected to override votes by Republicans, who now hold veto-proof majorities in the House and Senate. Both measures also received some votes from Democrats on the way to reaching Cooper's desk earlier this month. … The other vetoed bill would ban state agencies from using "environmental, social and governance" standards to screen potential investments, award contracts, or hire and fire employees. It also says the state could not weigh how a company promotes sustainability, engages with its community, or structures its leadership to support those goals. The measure stems from Republican efforts nationwide to counterweight a focus by big business on environmental sustainability and workplace diversity that they say is so extreme that it harms shareholders and pensioners. At least two other states have already enacted laws banning such criteria, and elected officials in several other red states have derided them or proposed similar policies to stop investors who contract with states from adopting them. And on state investments like those in pension funds, the bill says the state treasurer could solely consider factors expected to have a material effect on the financial risk or financial return of an investment.[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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