California is clearly Oklahoma’s opposite when it comes to ESG investing. ESG is the acronym for “environmental, social, and governance.” Basically, in Oklahoma, it means removing investments like the state pension plan from entities that oppose oil and gas.
California is taking the opposite approach, but it’s not working yet. An effort to force two of the country’s largest pension funds to divest about $15 billion dollars in oil and gas assets has fallen apart. Its sponsor set it aside after a legislative committee in Sacramento tried to “water it down.”
State Senator Lena Gonzalez says she will re-introduce her bill next legislative session.
