Similarly, “the Officer of the State Treasurer said it would be impractical to end its banking relationships” with two blacklisted banks, and likewise invoked an exemption. The difficulties encountered by public entities in Oklahoma illustrate the practical hurdles involved in enacting a boycott against some of the most significant financial institutions in the United States. It is important to remember that Oklahoma is only one of several states that have enacted anti-ESG statutes (although Oklahoma's is particularly far-reaching). The practical difficulties encountered by Oklahoma public entities are likely to be echoed across the country. The lone vote against taking the exemption came from Oklahoma Treasurer Todd Russ, who subsequently wrote a letter to the board voicing his displeasure with the decision.

Source: Wall Street Journal December 18, 2023 18:20 UTC