23 states send letters to Moody’s, S&P over ESG policies

Oklahoma Attorney General Gentner Drummond announced the state, along with 22 other state attorneys general, sent a letter last week to Fitch Ratings, Moody’s (MCO), S&P Global (SPGI) and the Securities and Exchange Commission outlining concerns about the agencies’ “pledge to systematically incorporate ESG considerations into credit ratings.” The states said, “In considering highly speculative ESG predictions and goals, the agencies have downgraded fossil-fuel companies, and their policies threaten to undermine states’ bond ratings as well.” Joining Drummond in the coalition are the attorneys general of Alabama, Alaska, Arkansas, Florida, Georgia, Idaho, Iowa, Indiana, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Montana, Nebraska, North Dakota, Ohio, South Carolina, Texas, Utah, West Virginia and Wyoming.