FOR IMMEDIATE RELEASE |
Contact: Clint Blaes |
Treasurer Steven Johnson statement on passage of ESG
legislation
TOPEKA – (April 6, 2023) – Kansas State Treasurer
Steven Johnson today issued the following statement on passage of House Bill
2100, the Kansas Public Investments and Contracts Protection Act. This bill
would ensure that in investing public dollars or contracting for the
expenditure of public funds, no preferential treatment or adverse
discrimination is given to companies based on environmental, social or governance
(ESG) criteria.
“I commend the Legislature for its passage of this
bill to ensure Kansas taxpayer dollars are invested in ways that maximize
returns – and not used to advance political agendas. As I said when I testified
in support of this bill, when it comes to investing state dollars, the priority
must remain focused on free-market principles and the traditional,
non-politicized meaning of fiduciary duty. That duty acknowledges that the
foremost goal of the investment of public funds is to produce the highest
returns with the lowest acceptable risk. As State Treasurer, and a member of
the KPERS Board, I take my fiduciary duty seriously, and I appreciate the
efforts of the Legislature to ensure that the law is clear that public
investment decisions be solely guided by the financial interests of Kansas
taxpayers and beneficiaries.”
The final bill passed the Senate 27-12 earlier today,
and the House of Representatives 76-47 this evening.
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