ESG banking may be illegal. Republican AG's letter.

0:00 Speaker 1 With us today is a tony gentlemen of West Virginia, Patrick Morrissey, and he’s got a few things that he thinks are the consumers and our citizens are getting the wrong And Patrick Morrissey, welcome to the CATS round Table and tell us what the heck is going on.

0:22 Speaker 2 Yeah, well, thank you John for having me on today. There’s this movement out there by the far left, and it’s a very dangerous movement. It’s to move what’s called the ESG Environmental Social Governance movement, and what they’re trying to do is try to advance pretty radical policies. In one case, they want to eliminate have zero emissions by

0:48 two thousand and fifty, which really means they’re targeting the elimination of the use of fossil fuels, and they’re doing that through a series of private sector actions, forming alliances between themselves. They’re trying to transform the federal government into an environmental watchdog. They’re trying to transform the nation’s securities regulator into an environmental watchdog. It’s a complete politicization of

1:17 the sec and the federal government, which normally is trying to help investors, and the states are fighting back so John, Just this week you saw many of the Republican attorneys general weigh in with some of the financial service companies that are pushing this net zero approach. And we think when you’re trying to curtail trade and you’re trying to

1:40 accept prices or limit production, you could be in a violation of the antitrust rules or competition rules. So state attorneys general are pushing back on that because to the extent that you want to make changes in our energies, you do so through Congress, and normal policy means you don’t do it through potentially illegal strength of trade within

2:02 the market.

2:03 Speaker 1 Well, the Supreme Court in the United States has already spoken to it, where the individual agencies appointed by politicians can’t do that and it has to be through Congress, hasn’t it.

2:19 Speaker 2 Well, you’re right, in fact, John, One of the biggest arguments that we make against what the Securities Exchange Commission is trying to do with these crazy ESG policies is we say we cite the US Supreme Court decision in West VIRGINIAVPA. And for those listening, it’s just a pretty straightforward concept that when you have a major question of

2:43 the day, write John, something of vast economic or political significance. The courts are very clear Congress gets to make the law, not the unelected bureaucrats. And you see that right now the Biden administration is trying to get all its little cracks in place in order to advance these radical policies.

3:04 So I step up and my colleagues step up and say no to that. But we also are watching what happens in the private sector because you get a lot of these companies coming together, and if they act in properly or if they collude, that raises real concerns because that lifts prices on consumers and puts everyday people at risk.

3:26 And we need to speak out against this.

3:28 Speaker 1 Now. If there’s like, let’s see, take an example that an EPA person is making a decision that should be a congressional point to a Supreme court. Can the local ags go after them or does it have to be the federal Bureau of Investigation.

3:51 Speaker 2 No, So if an agency violates the law, if our state is harmed, we could certainly bring a lawsuit lawsuit against them, and John, I’ve done exactly that many a time when the EPA broke the rules West Virginia and other states has stepped up and then we’ve reversed that. John, Unfortunately, this process takes a long time, and the federal government

4:17 is pretty insistent on breaking the rules under the Biden administration. But state attorneys general, when they’re asserting the position for their states, if the states are harmed, do have the ability to step up and file litigation against the Securities and Exchange Commission or the EPA or these other federal agencies that are really acting in a roagued manner inconsistent

4:40 with their powers under the constitution.

4:43 Speaker 1 Well, Attorney General Pat Morrissey, that you’re doing God’s work because that’s what the Constitution says, that’s what the Supreme Court ruled, and it has to be anything else, And you want to tell the American people, we what’s the minute so left?

5:01 Speaker 2 I would say, first of all, John, thank you for shunning a spotlight on these big issues. If you care about our constitution for the free market place, you want to pay attention to these crazy ESG rules because their goal, the other side’s goal, is to eliminate free markets in our country and move where the government forces these companies

5:24 to basically become actors of the state that’s not the way our system of government was set up. That’s not the way a capitalist marketplace was set up. And so a number of the state ags and myself we’re fighting back against that. We actually are correct on the law, and we’ve been winning in court, and we’re actually making

5:43 progress educating people about how problematic these radical policies are. You know, for instance, we talked in the past about sixty seven percent electric vehicles while they’re eliminating the use of coal and natural guests. It just doesn’t work on every level, and it’s time American people know that. If you want to learn more, go to patrickmorrisey dot com

6:06 two RS one as learn more about my work as AG and what I’ll be able to do as the next governor of the state of West Virginia.

6:14 Speaker 1 Well, Patrick Morrisey, good luck. When is the governor’s race.

6:18 Speaker 2 It’s in May. So we’re working hard, we’re doing well. We’re fighting against all these people on the far far left, and we’re going to defend our constitution and our way of life. And I applaud everyone listening. This is going to be a big race to get involved in.

6:35 Speaker 1 Patrick Morrisey, thank you for everything you do for our citizens and our country. God bless you, and God bless America. Thank you so much,