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Utah Blasts S&P for ‘Politicized’ State ESG Indicators

  • Ratings agency is issuing political judgments, lawmakers say
  • Environmental, social, governance indicators issued March 31
Spencer Cox
Spencer CoxPhotographer: Rick Bowmer/AP Photo

Utah’s governor and its federal lawmakers are objecting to S&P Global’s move to publish ESG indicators for U.S. states, calling it an undue politicization of the ratings process.

In a letter sent to the firm on Thursday, the politicians -- all Republicans -- lay out a lengthy rebuke of S&P’s move to release environmental, social and governance assessments, known as ESG. Despite Utah’s results falling in line with many other states, the officials argue S&P should focus strictly on financial fundamentals.