Exclusive: Finance officials from Republican states across the country will remove diversity, equity and inclusion (DEI) and the environment, society and governance (ESG) to governments, Fox News Digital spoke Utah Treasurer On the importance of meritocracy and the responsibilities of the fiduciary to markets and investments.
“ESG introduces another or different motivation to address social issues through capital markets and investments, which violates the trustee standards that we are all committed to.”
“And because of that double mission, there’s really a problem when you’re managing money for others. If one person wants to do it or your family wants to invest money like that, it’s their choice. But when you’re managing money for others, we have an obligation to do what’s their financial best and best.”
The Oaks were at the forefront of the fight against ESG, and investment principle critics say businesses and institutions use it to establish “awakening” agendas. Create some characters About the subject.
Fox News Digital spoke to Utah State Accounting with Marlo Oaks about ESG and DEI (Fox/Getty)
“When we talk about managing money for the benefit of others, that’s what many states do. We have a fiduciary duty to act in the best interests of our beneficiaries,” Oaks explained. “That’s why we have a duty of loyalty and care.
“And it really focuses on the financial outcomes of the beneficiaries. They rely on this money for retirement, so it is our financial or fiduciary duty to act in their best interests.”
Oaks said firefighters, teachers and police officers who rely on state pensions will ultimately be harmed if the state or business is investing on factors other than protecting investors.
Day is dead. The next thing to come
President Trump has made a move to cut federal spending. (istock)
“ESG introduces another or different motivation to address social issues through capital markets and investments. Doing so will violate the standard of commitment that we all as financial personnel are committed to,” Oaks said.
Oaks and other Republicans from the SFOF Conference are also opposed and praised by Day’s voice of action. President Trump For his efforts to roll back Day in the government.
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Oaks said Fox News Digital ESG and Dei are closely linked, and his opposition to Dei also returns to his desire to do the best for his state shareholders.
“DEI – diversity, equity, inclusion – it is actually a social part of ESG, and again, it is important. This is because much of the push by financial market activists is about adopting the agenda in companies that are not the best interest of the company. And companies have fiduciary duties to shareholders,” Oaks said.
President Donald Trump will head to his oval office on the southern lawn of the White House on his way to Florida, Washington, on March 28, 2025. (AP Photo/Mark Schiefelbein)
“When they introduce something like DEI, if they change employment practices rather than merit-based, it moves to other discriminatory employment practices, which ultimately harms the company and its financial output.
The Oaks were one of 20 dozen. State Treasurer In March, he wrote to the Securities and Exchange Commission (SEC), asset managers, representative advisors and public companies to warn them of the financial risk of prioritizing financial interests on political agendas such as DEI.
Oaks told Fox News Digital that when DEI was introduced at the state’s finances level, “we are potentially introducing financial harm.”
“And companies like Bud Light, such as Target, are other companies that have adopted policies that are not in the economic best interests of shareholders.
Deirdre Heavey from Fox News Digital contributed to this report
