According to the Times investigation, Republican treasurers in nearly two dozen states have been coordinating to prevent regulations on fossil fuels and punish companies taking efforts to reduce greenhouse gas emissions.
John,
We know very well that national Republicans have obstructed federal action to combat climate change for decades. Never forget that the historic climate bill that Congress just passed didn’t garner a single Republican vote. But a recent investigation by The New York Times has discovered a new and rather underlooked weapon in the GOP’s arsenal against climate initiatives across the country – state treasurers.
Treasurers wield control over state finances and are responsible for overseeing the disbursement and investment of state funds. According to the Times investigation, Republican treasurers in nearly two dozen states have been coordinating to prevent regulations on fossil fuels and punish companies taking efforts to reduce greenhouse gas emissions.
GOP treasurers in states like West Virginia are denying major financial institutions like Goldman Sachs, JP Morgan, and others from receiving state contracts as retaliation for their efforts to reduce investments in coal and other fossil fuels.
In addition to denying state contracts to companies working to reduce emissions, Republican treasurers have also been coordinating to prevent the appointment of federal regulators that seek to implement certain climate measures, such as disclosure requirements on businesses regarding the financial risks posed by climate change.
These treasurers are not coordinating on their own initiative though, John. They’ve got big money from pro-fossil fuel groups backing them. According to the Times investigation, an organization called the State Financial Officers Foundation has played a key role in organizing these treasurers through conferences and weekly calls. This Foundation just happens to be supported by prominent anti-green energy groups like the American Petroleum Institute.
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