PHOENIX – Today, Arizona Attorney General Kris Mayes announced that Arizona would stop participating in investigations into major American banks and other financial institutions over ESG practices related to investing.
“While my predecessor’s administration spent time and resources launching politicized investigations into the environmental sustainability efforts of major financial institutions, my administration is committed to using the tools and resources at our disposal to protect and secure the rights of Arizonans on matters that affect their daily lives,” said Attorney General Kris Mayes. “Arizonans can expect my office to be laser-focused on issues like protecting Arizona’s natural resources – including water, combatting fraud and scams, and safeguarding vulnerable groups like seniors and children.”
Mayes added that she believes it is not the place of government to tell corporations and their investors that they cannot invest in sustainable technologies and practices or improve their governance processes.
“Corporations should be permitted to access capital markets in ways that they feel are necessary for the advancement of their investor objectives and for society, as long as they are doing so in a lawful manner,” Mayes said. “Corporations increasingly realize that investing in sustainability is both good for our country, our environment, and public health and good for their bottom lines. The state of Arizona is not going to stand in the way of corporations’ efforts to move in the right direction.”