Bill Protecting State Pensions from ESG Policies Passes House
OKLAHOMA CITY (March 20th) – Rep. Terry O'Donnell, R-Catoosa, today passed a bill in the House designed to continue protections of state pension funds from strategies that would be harmful to the state's energy industry.
House Bill 2547 would prevent any state-run pension fund from delegating its votes by proxy to entities that do not subscribe to Oklahoma's investment strategy as outlined in the measure. The bill is a follow-up to legislation co-authored by O'Donnell last year that restricts the investment of Oklahoma pension funds by firms that adopt strategies akin to Environmental Social Governance (ESG).
