The State Financial Officers Foundation (SFOF) has emerged on the political scene in recent years as a key player in the Right’s campaign to use the power of state governments to blacklist companies that embrace environmental, social, and governance factors (ESG) in their business and investing practices. Since 2020, more than 340 bills have been introduced in 38 states to attack ESG, such as blocking public pension funds from investing in and withholding public contracts from firms that take into consideration climate risks, diversity, and gun safety when making business decisions.

SFOF connects Republican state treasurers and auditors in 28 states with industry and dark money groups in the same way that the American Legislative Exchange Council (ALEC) does for state legislators. The two organizations have close ties in terms of agendas and leadership.

This site, SFOF Exposed, provides a central hub for information on SFOF members and the operatives, groups, and funders they work with to manufacture a crisis around responsible investing under the guise of attacking “woke capitalism.”


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