Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB974

Introduced
2/6/23  

Caption

Environmental, social, and governance; prohibiting use of certain investment criteria by governmental entities, political subdivisions, businesses, or persons. Emergency.

Impact

If enacted, SB974 would impact various aspects of state law, altering how public sector contracts are awarded and how organizations interact with employees. The bill mandates that any entity competing for state contracts must confirm that their employee evaluations will not be influenced by ESG or ETI policies. This change is anticipated to streamline the contracting process by eliminating what proponents argue is subjective criteria that could influence hiring and operational decisions.

Summary

Senate Bill 974 (SB974) proposes significant changes to the way environmental, social, and governance (ESG) criteria are utilized in Oklahoma. Specifically, it seeks to prohibit all governmental entities, political subdivisions, and businesses from using ESG or economically targeted investment (ETI) criteria. This prohibition extends to hiring, firing, evaluations of employees, and the awarding of state contracts based on these criteria. The bill aims to prevent any evaluation or judgment based on ESG-related factors, positioning itself against what supporters view as an unnecessary intrusion of social and environmental considerations into business practices.

Contention

One of the primary points of contention surrounding SB974 is the debate over the role of ESG considerations in business and government operations. Supporters of the bill argue that ESG criteria represent a form of regulatory overreach that could hinder business efficiency and economic growth. Conversely, opponents express concerns that removing these criteria could permit discriminatory practices to flourish under the guise of neutral hiring and evaluation processes. Critics suggest that the bill undermines efforts to promote social responsibility and environmental sustainability, which are increasingly recognized as important factors in long-term economic health.

Companion Bills

OK SB974

Carry Over Environmental, social, and governance; prohibiting use of certain investment criteria by governmental entities, political subdivisions, businesses, or persons. Emergency.

Previously Filed As

OK SB974

Environmental, social, and governance; prohibiting use of certain investment criteria by governmental entities, political subdivisions, businesses, or persons. Emergency.

OK SB165

Public water supplies; prohibiting certain political subdivisions or public and private businesses from fluoridating a public water supply. Emergency.

OK SB997

Investments; prohibiting investments of public funds in communist governments and organizations. Effective date.

OK SB280

Public health; prohibiting compulsory immunization by state entity or political subdivision; prohibiting penalties. Emergency.

OK HB2212

Unfair business practices; banks; trust companies; credit unions; business entities; civil penalties; emergency.

OK SB846

Environment and natural resources; prohibiting political subdivisions from prohibiting collection of rainwater. Effective date.

OK SJR12

Constitutional amendment; prohibiting unfunded mandates for political subdivisions.

OK SB1075

State government; prohibiting the state or any political subdivision from entering into contracts with certain companies that engage in boycotts. Effective date.

OK SB756

Medicaid; prohibiting prior authorization process by contracted entity when provider meets criteria for certain exemption; stipulating certain procedures. Emergency.

OK SB275

Emergency management; prohibiting Governor from closing businesses under certain circumstances; requiring due process for businesses ordered to close. Effective date. Emergency.

Similar Bills

No similar bills found.