Protect Our Future: Protect Responsible Investing in Missouri

I urge you to oppose HB1699 (Sparks), HB1700 (Sparks), HB1937 (Owen), HB1725 (O'Donnell), SB815 (Carter), SB827 (Koenig), SB980 (Black), SB1113 (Black), SB1061 (Coleman), SB1142 (Moon), and any similar bills. All of these bills either prevent the Missouri state and/or local government from taking into account climate change and other social and governance issues when making decisions, or else prevent state and/or local government from dealing with businesses that do the same. It is not a new idea to incorporate social, environmental and governmental (ESG) issues such as corruption into investment decisions. Companies and investment managers consider the environment in order to moderate risk and align with the values of their customers and community to make better long term investments. This attempt to restrict Missourians' options is part of a larger dark-money campaign orchestrated and heavily funded by the fossil fuel industry and out-of-state billionaires. They oppose the growing trend of financial institutions and state and local governments making common-sense, business-driven decisions to respond to the systemic risks of climate change. They want to stop money flowing out of risky fossil fuel investments and into the growing clean energy economy by limiting options for governments. Rather than choosing Missourians, these bills favor dark money interests. This set of bills is a desperate attempt at climate denialism. The fossil fuel industry is highly subsidized and the status quo is not profitable or financially sustainable. Bills like these are a dying industry's attempt to forestall the end rather than make changes for our shared future. States that have enacted similar laws risk losing hundreds of millions of dollars for retirees and municipalities. Climate change is real and it already negatively impacts our economy. In 2021 climate disasters cost the United States more than $145 billion. Missouri already suffers negative effects of climate change, including more frequent and severe floods, longer periods of dangerous heat in the summer, droughts and a more intense cold polar vortex in the winter. Both businesses and governments should consider the effects of climate change on the economy and Missourians. These bills limit that option.