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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