Arizona will no longer participate in investigations into banks and other financial institutions over ESG investing practices, according to a statement from the state’s new Attorney General, Kris Mayes.
Under the administration of Republican former Governor Doug Ducey, Arizona had adopted or participated in a series of anti-ESG initiatives, including revising the investment policies of the State Treasurer’s Office to disallow the use of ESG factors in the investment process, and in August, Mayes’ predecessor Mark Brnovich joined 18 other Attorneys General in publishing a letter accusing BlackRock of acting with “mixed motives” in its pursuit of an anti-fossil fuel and pro-net zero agenda.
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