January 1, State Treasurers Expose ESG Schemes Threatening Taxpayer Money

Wyatt’s Take

• Twenty-two state financial officers are standing up to credit agencies pushing woke ESG rules that could raise borrowing costs for everyday Americans.
• The treasurers warn that climate politics, not hard facts, are creeping into credit ratings that affect public pensions and state budgets.
• Officials from 17 states are demanding accountability before taxpayers get stuck with the bill for radical green policies.

Twenty-two state financial officers demanded answers Wednesday from America’s largest credit rating agencies over allegedly flawed environmental, social and governance policies they warn could threaten taxpayer money, public pensions and state borrowing costs.

The officials, representing 17 states, accused S&P Global Ratings, Moody’s and Fitch Ratings of allowing politically driven climate assumptions to influence ratings decisions.

They said these agencies are injecting unproven climate models into credit evaluations that directly impact how much states pay to borrow money for roads, schools and essential services.

“We are deeply concerned that the rating agencies are using subjective, non-financial factors that could distort the true creditworthiness of state and local governments,” the letter stated.

State treasurers from both parties signed the letter, showing this is not just a partisan issue but a pocketbook concern for working families across the country.

The officials warned that if ESG factors continue to drive ratings, states could face higher interest rates on bonds, draining resources from real priorities like infrastructure and public safety.

They called on the agencies to explain how they weigh climate assumptions against actual financial data when assigning credit scores that affect millions of Americans.

Wyatt Matters

Hardworking taxpayers expect their state leaders to protect public funds from political games, not let radical climate theories dictate the cost of borrowing for roads and schools.