February 17, 2023

ESG Practices No Longer in the Crosshairs of Arizona AG Office

Bernard Nash

Cozen O'Connor

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Cozen O'Connor

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.

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