Oklahoma State Treasurer Todd Russ was sworn in Monday as the 20th State Treasurer of Oklahoma. Russ, a banker for more than 30 years, a farmer, rancher, and small business owner, said he is ready to get to work on behalf of all Oklahomans.
“I am deeply committed to evaluating the systems used to manage our money as a state,” Russ said. “The taxpayers deserve to know that their money is being invested in areas that comply with our laws and align with our standards and values.”
Russ laid out a plan to evaluate all the state’s investment partners and their policies regarding Environmental, Social, and Governance (ESG) to evaluate risk and growth opportunities. He is also committed to increasing the return of unclaimed property to its rightful owners, ensuring the value for the 529 College Savings Program and assuring that Oklahoma STABLE program investors receive the best rates possible.
“The dangers of ESG to our state’s financial well-being is a top issue for me,” Russ said. “I am concerned that companies that utilize these non-financial factors to make key financial decisions are missing the mark. We will not do business with those who are punishing Oklahomans based on these unattainable environmental or social values.”
“I plan to reevaluate the dollars invested on behalf of our state and ensure Oklahomans’ taxes are invested in companies that prioritize our values and ethical standard,” Russ said.
The mission of the Office of the State Treasurer is to serve the people of Oklahoma by providing sound banking and investment services, reuniting individuals and businesses with their unclaimed property, and promoting economic opportunities in a fiscally responsible and efficient manner while adhering to the highest professional and ethical standards.