Arizona AG Withdrew from ESG Investigations from Prior Administration

FEBRUARY 13, 2023

Arizona Attorney General Kris Mayes, who took office in January 2023, announced that her office would no longer be participating in investigations of environmental, social, and governance (ESG) investment practices at major financial institutions. In October 2022, then-Arizona AG Mark Brnovich joined a multistate investigation into six major banks over ESG investment practices. In a statement, AG Mayes explained that she will not interfere with investments that corporations determine are “good for our country, our environment, and public health and good for their bottom lines,” and stated that her office intends to instead focus on “issues like protecting Arizona’s natural resources – including water, combatting fraud and scams, and safeguarding vulnerable groups like seniors and children.”