In 2022, Oklahoma lawmakers passed the “Energy Discrimination Elimination Act” (EDEA), which requires the state treasurer to identify firms that embrace “Environmental Social Governance” (ESG) policies. Those pro-ESG firms are barred from receiving state contracts, including management of state pension funds.
Opponents of the law have pushed back and obtained an injunction preventing its enforcement.
But an unrelated class-action lawsuit targeting American Airlines’ use of pro-ESG firms to manage its employees’ pensions shows some retired workers agree with Oklahoma lawmakers.
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