- Arizona AG Kris Mayes announced that Arizona will no longer participate in investigations into financial institutions’ consideration of environmental, social, and governance (ESG) factors when choosing plan investments.
- Mayes’ announcement is a departure from the policies of her predecessor, former Republican AG Mark Brnovich, who participated in investigations into ESG practices. Mayes, a Democrat who took office in January 2022, explained that her administration would prioritize other issues, including the protection of Arizona’s natural resources, combatting fraud and scams, and safeguarding vulnerable populations.
- Cozen O’Connor attorneys have previously offered advice for businesses in light of the considerable and still increasing AG scrutiny of ESG practices.