Measure would have barred financial institutions from considering a company's environmental, social justice and governance score when deciding whether to lend it money.
Howard Fischer PHOENIX — State lawmakers slapped down a bid to tell banks they can't consider certain social factors when deciding who gets a loan.
"If you are not 'green' enough as a company they will lower your score,'' effectively denying access to capital, Hoffman said during hearings on the measure. The defeat came of House Bill 2656 came as two Republicans, Michelle Udall of Mesa and Joel John of Arlington, lined up with every House Democrat in opposition. Neither explained their decision.
"It's certainly not going to impact the elites, the megacorporation wokesters who run these companies, the people who are in the top 1%,'' he said."It's going to affect low-income and middle-income families, the people who can't afford to put solar on their homes, the people who can't afford to drive a Tesla or some other green electric car.''
"So, in other words, Schreiber Foods is going to require local dairy producers to reduce their carbon footprint and alter their land use practices, which is going to have an effect on residents of Pinal County like myself,'' Carter said. Rep. Diego Espinoza, D-Tolleson, said the issue for him is even simpler. He said there's a sign just inside the door of a bar and grill he owns: We have the right to refuse service.