March 26, 2023
Dear Editor:
According to Senate State of Affairs Chairman, Jim Guthrie, “Let me be clear, I am not hearing the bill this year…”
Senator Guthrie is talking about anti-ESG (Environmental, Social, and Governance) bill H0189, which already passed the House vote with flying colors. It seems to us that when a bill passes with an overwhelming majority in the other house, it should be heard and passed on for a vote! How is it that one person (the Chair) feels entitled to override a huge majority of legislators, and not allow it to be discussed? It begs the question: To whom is the Chair listening? It has been suggested: Idaho Association of Commerce and Industry (IACI) lobbyists.
This legislation prohibits public contracts with companies that are boycotting certain industry. It defines the meaning of “boycott” and the industries included thereof. It clarifies the definition of “reasonable business purpose” and offers an exemption process that is transparent to the public.
This bill is very similar to H0190, which just passed out of his same committee, allowing the State Treasurer to add a criteria for her choosing where to put our state monies; i.e., not with those banks/credit unions that choose to boycott certain industries, which would be harmful to Idaho. Why can’t we continue that choice to all public contracts? Where is the rationale for not hearing H0189 in committee?
Given overwhelming evidence (Columbia University and London School of Economics) that ESG goals, which are supposed to help improve the environmental and social sustainability of business practices, suggest just the opposite of their goals:
- ESG Goals actually direct capital into poor business performers;
- Companies in the ESG portfolios had worse compliance records for both labor and environmental rules;
- Setting ESG targets actually distorted corporate decision making;
- Companies publicly embracing ESG use this concept as a cover for poor business performance.
Additionally,
- ESG advocates for, and forces, companies to take positions in the political arena on issues that may have nothing to do with the company’s actual business activities;
- In reality, what they are signaling is their dereliction of their fiduciary duty to those who have invested in their companies; and
- The Left’s insatiable appetite for all things political should be met with a clear response by economic freedom-loving people everywhere not to feed it.
The free-enterprise system should be perpetuated by giving companies the right to choose NOT to do business with companies that boycott other industries (which, as evidenced above, is what ESG does).
Lastly, when a bill (rightfully) passes with an overwhelming majority in the other house, it should be heard, and at least passed on for a vote!
Senator Guthrie, we kindly ask you to give House Bill 0189 a vote.
Thank you.
Tom and Carolyn Harrison,
Bonneville County
