ESG State Laws and Policies:
An Overview
Updated as of
September 2024

Key State-Level ESG Laws and Policies
ESG Battlegrounds:
Anti-ESG Laws/Policies/Resolutions

Pro-ESG Laws/Policies/Resolutions

How the States Are Shaping the Regulatory Landscape in the U.S.
State

Anti-ESG Investing

Alabama†Anti-boycott

Contracting
Restriction

AntiDiscrimination

Consideration ofESG Factors

Divestments

ESG-related
Disclosures•†••

AlaskaArizona†

Arkansas•••California
Colorado•

Connecticut†

DelawareWashington, D.C.
Florida•†Georgia•†••HawaiiIdaho•••

IllinoisIndiana•†
•†

Iowa•
†

Kansas•Kentucky•†•••Louisiana†••

Maine
MarylandESG STATE LAWS AND POLICIES – Key State-Level ESG Laws and Policies••1Anti-ESG Laws/Policies/Resolutions
StateAnti-ESG InvestingAnti-boycott

Contracting
Restriction

Pro-ESG Laws/Policies/Resolutions
AntiDiscrimination

Massachusetts

Consideration ofESG Factors

Divestments

ESG-related
Disclosures†

MichiganMinnesota
Mississippi†

Missouri†Montana•†•

Nebraska
NevadaNew Hampshire†•†••New Jersey
New Mexico†

New York†

North Carolina•

North Dakota•••

OhioOklahoma••

Oregon†•Pennsylvania
Rhode Island
South Carolina†•

South DakotaTennessee•••••••†•••••†•

TexasUtah†•

VermontVirginia
Washington
West Virginia
Wisconsin
Wyoming• law† resolution/policies

ESG STATE LAWS AND POLICIES – Key State-Level ESG Laws and Policies

2

Major Multi-State Initiatives
Anti-ESG Multi-State Initiatives

State•Alabama
Alaska•Arizona
Arkansas

Pro-ESG Multi-State Initiatives

AG Letter AG Letter
AGAG Letter AG Letter Governors’ AG Letter AG Letter AG Letter AG Letter
AGAG Letter Treasurer AG Letter AG Letter
StateAG Letter Democratic AG LettertoInvestig- to ISS andtoStatement to Asset to Net-Zero to BankstoLetter to to Net Zero Letter toto Assettoto SEC
to SEC Treasurers’ to Senate AG Letter
BlackRock ation into
Glass
Congress on Anti- Managers InsuranceBlackRock Fortune Financial
FASB
Managers
PublicCommittee to Fortune Congress(6/17/22)(5/19/23)(8/16/22)
U.S.
Lewis
ESG
Alliance
100
ServiceLetter
100(8/4/22)(2/14/23) Investing (3/30/23)(7/6/23)(11/21/22)(12/14/23)
Providers (8/12/24) (8/29/24)
banks(1/17/23)(5/15/23)(7/13/23) Alliance(9/14/22)(7/19/23)(10/22)(3/16/23)(9/13/23)••••••••••••••••••••••••••••••••••••••••••••••••••

California•••

Colorado
Connecticut•

Delaware•Washington,D.C.
Florida•

•

••

•

•

••

•

•

•

•

•

•••

•

•••••••••••••••••••••••

Georgia•••

HawaiiIdaho•••••••••••••••••••••••

Illinois
Indiana
IowaKansas•

Kentucky••••••••Louisiana•••••••••••••••••

•

•••

•

•

•

Maine•

Maryland•

Massachusetts•

Michigan•Minnesota
Mississippi•

•••

•

•

•

ESG STATE LAWS AND POLICIES – Major Multi-State Initiatives

•

••

•

••

•

•

•

3

•

Anti-ESG Multi-State Initiatives

StatePro-ESG Multi-State Initiatives

AG Letter AG Letter
AGAG Letter AG Letter Governors’ AG Letter AG Letter AG Letter AG LetterAGAG Letter Treasurer AG Letter AG Letter
StateAG Letter Democratic AG Letterto SECtoInvestig- to ISS andtoStatement to Asset to Net-Zero to BankstoLetter to to Net Zero Letter toto Assetto SEC Treasurers’ to Senate AG Letter
toGlassPublicBlackRock ation intoCongress on Anti- Managers InsuranceBlackRock Fortune Financial
FASB
Managers
Committee to Fortune Congress(6/17/22)(8/16/22)
U.S.
Lewis
ESG
Alliance (5/19/23)
100ServiceLetter
100(8/4/22)(2/14/23) Investing (3/30/23)(7/6/23)(11/21/22)(12/14/23)
banks
Providers (8/12/24) (8/29/24)(1/17/23)(5/15/23)(7/13/23) Alliance(9/14/22)(7/19/23)(10/22)(3/16/23)(9/13/23)

Missouri••••••••••••

Montana•••••••

••••

•••

•

•••

•

Nebraska•

•••

•

•

NevadaNew
Hampshire

•

••

•

•

•

•

•••

•

•
•

New Jersey
New Mexico•

New York•••

•

•

•

•

••

•

•

••

•

North Carolina•

North DakotaOhio•

Oklahoma••••••••••••••••••

Oregon•Pennsylvania•

Rhode IslandSouth Carolina•••

South Dakota•

TennesseeTexas••Utah•••••••••••••••••••••••••••••••••••••••••

••

•

•••

••••••••••••••

Virginia
Washington••

Wisconsin
Wyoming•

•••

•

•

Vermont

West Virginia•

ESG STATE LAWS AND POLICIES – Major Multi-State Initiatives•••••••••

4