Senator Thune Leads Charge Against ESG on Senate Floor

​Jay Kruse says don’t be fooled by ESG scoring that will be detrimental to the ag industry, the economy, and even to our grocery shelves as producers are squeezed out. 

by Jay Kruse, Chief Advocacy Officer
 
A huge THANK YOU to Senator Thune for standing up for Dakota Credit Unions and banks in our support of our local farmers and ranchers! He spoke out on the Senate Floor late last week; fast forward to 5:23 in this video for his comments on the NCUA’s ESG related agenda included in their Strategic Plan.

Senator Thune followed that up with a Letter to the Biden Administration that Senators John Hoeven and Kevin Cramer also supported.

Don’t be fooled about Environmental, Social, and Governance (ESG) scoring. ESG scoring is inherently flawed at its core and will lead the country down a dark path. When the resources and support available to our local farmers and ranchers is threatened in the name of ESG, it’s definitely time for us all to stand up. When the government starts threatening to choke off investment in the ag industry, we all should be concerned. Sri Lanka is the perfect case study on ESG, as it crippled their economy and collapsed their entire government.

We also appreciate the work Senator Rounds has put in to fight back against our financial regulators’ ESG agenda. Senator Rounds’ questioning of NCUA Director Harper during a recent Senate Banking Committee hearing resulted in a commitment to avoid similar concerning language targeting ag lenders in any future strategic plan.

Yes, that portion of the NCUA’s Strategic Plan Senators Thune and Rounds are referring to was rescinded; however, the fact it was included in the first place is deeply concerning. Credit unions all across the Dakotas serve our agricultural communities; many were actually specifically chartered to do so. We plan to continue to do all we can to help educate all of our credit union industry partners, including the NCUA, about the important role farmers and ranchers play in supporting our economy and feeding America!
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As always, don’t hesitate to contact me with any advocacy related question or concerns.