Like Ms. Omarova, Ms. Raskin withdrew her candidacy. “Sarah has been the subject of baseless attacks from industry and conservative interest groups,” Biden said in a statement.
Treasurers also set their sights on new federal rules and regulations intended to strengthen the government’s ability to act on climate change.
Late last year, the State Financial Officers Foundation worked with the Heritage Foundation to respond to proposals from the Financial Stability Oversight Council, a government group tasked with minimizing risk in the financial sector, on ways to reduce the threats posed by climate change, according to the records. .
And soon after, Mr. Oaks, the Utah treasurer, penned a letter opposing a potential Labor Department rule that would allow pension plans to factor global warming risks into their strategy. of investment. Mr. Kreifels distributed the draft to the members of the foundation and more than a dozen treasurers signed the final letter. The Department of Labor has not decided whether or not to apply the rule.
This year, treasurers targeted the Office of the Comptroller of the Currency. After the agency proposed a rule requiring banks to consider climate-related financial risks, Heritage Foundation executives sent Mr. Kreifels and Mr. Oaks a memo outlining their opposition. Within weeks, dozens of state treasurers and attorneys general from Republican-led states submitted comments opposing the proposed rule.
“This particular concern and attention to climate-related risks is irrational,” read one comment.
And in May, Kreifels hosted a call with treasurers to discuss proposed Securities and Exchange Commission regulations that would require companies to publicly disclose climate risks to investors. The star guest was a representative from the American Petroleum Institute, the lobby arm of the fossil fuel industry.
The following month, the State Financial Officers Foundation sent a 20-page letter signed by more than a dozen treasurers, calling the SEC’s proposed rule, which has yet to be enacted, “irrational climate exceptionalism, elevating climate issues to prominence in revelations they don’t deserve.