January 19, 2023
By News Director Jared Atha
Oklahoma’s newest State Treasurer says he wants to protect the state’s oil and gas industry that could be targeted by financial institutions.
Todd Russ (R-Cordell), who assumed his new role as state treasurer earlier this month after winning the seat late last year, says he aims to to prevent the industry from being targeted with “ESG” which stands for Environmental, Social and Governance evaluations.
Russ stated that he plans to put the state’s new Energy Discrimination Elimination Act of 2022 into effect in November and December.
The new Act was created when some financial institutions started discriminating against oil and gas companies over ESG issues.
Russ has said that the state will not do business with those who are punishing Oklahoma businesses based on unattainable environmental or social values.
Russ went on to say that he plans “to reevaluate the dollars invested on behalf of the state and ensure Oklahomans’ taxes are invested in companies that prioritize Oklahoma’s values and ethical standard,”.
Russ is currently serving his first term as State Treasurer. He previously served as Representative of District 57 in the House before being term limited.
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