INTERNACIONAL
Red state treasurer reveals why state financial officers have ‘obligation’ to combat ESG, DEI
EXCLUSIVE: As Republican state financial officers across the country move to rid the government of diversity, equity and inclusion (DEI) and environmental, social and governance (ESG), Fox News Digital spoke to Utah’s state treasurer about the importance of bringing meritocracy and fiduciary responsibility back to markets and investments.
«ESG introduces another motive or another motivation to address societal issues through the capital markets or through investment, and when you do that, you violate the fiduciary standards that all of us as financial officers are committed to,» Utah State Treasurer Marlo Oaks told Fox News Digital at the State Financial Officers Foundation conference in Orlando, Florida.
«And, so, because of that dual mandate, you really have problems when you’re managing money for other people. If a single person wants to do it or a family wants to invest their money that way, that’s their choice. But when you are managing money for other people, we don’t have that choice. We have an obligation to do what’s in their financial best interest.»
Oaks has been at the forefront of the fight against ESG, an investing principle critics say companies and institutions utilize to enact «woke» agendas, authoring several letters on the subject.
WHITE HOUSE HIGHLIGHTS OVER $2B IN SAVINGS FROM DEI CUTS DURING TRUMP ADMINISTRATION’S FIRST 100 DAYS
Fox News Digital spoke to Utah State Treasurer Marlo Oaks about ESG and DEI (Fox/Getty)
«When you talk about managing money for the benefit of other people, which is what a lot of state treasurers do, we have a fiduciary duty to act in the best interest of the beneficiary,» Oaks explained. «So, we have the duty of loyalty and a duty of care.
«And it is really focused on the financial outcomes for the beneficiaries. They are depending on this money for their retirement, and, so, it is our financial obligation or fiduciary obligation to act in their best interests.»
Oaks said firefighters, teachers and police officers who depend on state pensions end up being harmed when states or companies are investing based on factors other than protecting investors.
DEI IS DEAD. HERE’S WHAT SHOULD COME NEXT
President Trump has made moves to slash DEI spending in the federal government. (iStock)
«ESG introduces another motive or another motivation to address societal issues through the capital markets or through investment, and when you do that, you violate the fiduciary standards that all of us as financial officers are committed to,» Oaks said.
Oaks and the other Republicans at the SFOF conference have also been vocal opponents of DEI measures and praised President Trump for his efforts to roll back DEI in government.
CLICK HERE TO GET THE FOX NEWS APP
Oaks told Fox News Digital ESG and DEI are closely related and that his opposition to DEI also links back to the desire to do what’s best for shareholders in his state.
«DEI — diversity, equity, inclusion — that’s really the S portion, the social portion of ESG, and, again, it’s important because a lot of the push by activist folks in the financial markets is to push an agenda onto corporate America, to have them adopt policies at companies that really are not in the best interest of the companies. And companies have a fiduciary obligation to their shareholders,» Oaks said.
President Donald Trump walks from the Oval Office to board Marine One on the South Lawn of the White House en route to Florida March 28, 2025, in Washington. (AP Photo/Mark Schiefelbein)
«When they introduce things like DEI, you change hiring practices, not for merit-based, it moves to other discriminatory hiring practices and ultimately harms companies and their financial output. And, so, that ultimately harms the teachers, the firefighters, the police officers that you’re trying to help with their retirement.»
Oaks was one of two dozen state financial officers who sent a letter in March to the U.S. Securities and Exchange Commission (SEC), asset managers, proxy advisors and public companies, sounding the alarm on the financial risk of prioritizing a political agenda, like DEI, over financial returns.
Oaks told Fox News Digital that when DEI is introduced at the state financial officer level, «we are potentially introducing financial harm.»
«And we’ve seen that with companies like Target, like Bud Light, you know, other companies that have adopted policies that are not in the financial best interest of the shareholders. They have harmed the shareholder value, and that ultimately harms the outcomes that these hardworking public servants and teachers, et cetera, that have worked so hard, retire with the money that they need.»
Fox News Digital’s Deirdre Heavey contributed to this report
Politics,Utah,DEI
NEWYou can now listen to Fox News articles!
A government shutdown, big or small, is usually a front-and-center issue for lawmakers — but the most recent partial closure could be put on the back burner as Congress returns to several issues in Washington.
Senate Democrats and the White House are still at odds over funding the Department of Homeland Security (DHS), as the shutdown dragged into its tenth day. Neither side is budging, with the most recent concrete action coming early last week.
Trump, who proved pivotal in striking a funding truce with Senate Minority Leader Chuck Schumer, D-N.Y., in January, was not directly involved in recent negotiations.
‘TARIFFS SUCK’: SOME REPUBLICANS PRIVATELY CELEBRATE AS SUPREME COURT BLOCKS TRUMP POLICY
President Donald Trump has not had any «direct conversations or correspondence» with congressional Democrats recently. (Evan Vucci/The Associated Press )
Trump has not had any «direct conversations or correspondence» with congressional Democrats recently, White House press secretary Karoline Leavitt said, noting that the White House and its representatives have been handling the dialogue.
«But, of course, Democrats are the reason that the Department of Homeland Security is currently shut down,» she said. «They have chosen to act against the American people for political reasons.»
Senate Democrats offered a counter to the White House’s own counterproposal, which quickly was rejected as «unserious» by Leavitt. It’s a peculiar instance, given that this is the third shutdown during Trump’s second term, and neither side appears to be in a particular rush to end it.
DEMOCRATS RISK FEMA DISASTER FUNDING COLLAPSE AS DHS SHUTDOWN HITS DAY 5
Senate Minority Leader Chuck Schumer, D-N.Y., and his caucus have not relented in their position as DHS enters its tenth day of being shut down. (Nathan Posner/Anadolu via Getty Images)
Senate Majority Leader John Thune, R-S.D., told Fox News Digital that there’s «some room for give and take» in the negotiations, but remained firm in the GOP’s positioning against requiring Immigration and Customs Enforcement (ICE) agents from getting judicial warrants, unmasking or other reforms sought by Democrats that could increase risks for agents in the field.
«I felt like, you know, the last offer the White House put out there was a really — it was a good faith one, and it was clear to me that they’re attempting, in every way, to try and land this thing so we can get DHS funded,» Thune said.
Funding the agency will be a top priority for the upper chamber, but they’ll be delayed because of winter storms descending on the East Coast. The weather has caused the Senate to delay a vote on the original DHS spending bill until Tuesday night, ahead of Trump’s State of the Union address.
There are other issues that could get in the way of hashing out a deal, including a possible conflict with Iran and Trump’s desire to move ahead with tariffs without congressional approval.
GOP WARNS DEMOCRATS USING DHS SHUTDOWN TO STALL SENATE VOTER ID PUSH
Senate Majority Leader John Thune, R-S.D., warned that Senate Democrats were trying to tie up Republicans from hitting the campaign trail ahead of the pivotal 2026 midterm cycle. (Bill Clark/CQ-Roll Call, Inc via Getty Images)
Trump told reporters Friday that he was «considering» a limited military strike against Iran, which already has riled up some in Congress, who are demanding that lawmakers get a say on whether the U.S. strikes.
Sen. Tim Kaine, D-Va., said in a statement that he has a war powers resolution to block an attack on Iran filed and ready, and challenged his colleagues to vote against it.
«If some of my colleagues support war, then they should have the guts to vote for the war and to be held accountable by their constituents, rather than hiding under their desks,» Kaine said.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
On the heels of the Supreme Court’s ruling to torpedo his sweeping duties, Trump is considering bypassing Congress to move ahead with another set of global 10% tariffs.
That comes as some Republicans are quietly celebrating the end of the duties, and others are open to working with the administration on a path forward for trade policy.
On tariffs, a Republican aide told Fox News that the GOP was «waiting to see what POTUS does next.»
«The State of the Union should be interesting,» they said.
politics,senate,government shutdown,homeland security
NEWYou can now listen to Fox News articles!
Following the reported killing of major cartel leader Nemesio Oseguera, known as El Mencho, multiple American tourists vacationing in Puerto Vallarta told Fox News Digital they unexpectedly found themselves in the middle of a violent cartel retaliation.
As airlines canceled flights and authorities issued shelter-in-place orders, stranded visitors reported cars set ablaze, suspected cartel members blocking major roads, and stores ransacked by looters — scenes some witnesses said made parts of the popular resort city feel like «a war breaking out in the streets.»
Witnesses said they were forced to evacuate their rooms, manage with limited hotel food, and even venture outside in search of meals while waiting for Mexican authorities to regain control of the city.
Staying at an Airbnb near a main road, Eugene Marchenko, 37, of Charleston, South Carolina, told Fox News Digital he woke up to blaring horns and saw six cars completely engulfed in flames just outside his balcony. He and his wife, who had arrived in Mexico only a day earlier, were forced to evacuate for several hours, fearing that a nearby fuel tanker, also ablaze, could explode.
MAJOR DRUG LORD ‘EL MENCHO’ KILLED IN MEXICAN MILITARY OPERATION WITH U.S. INTELLIGENCE SUPPORT
«I looked down and they’re completely engulfed in flames,» Marchenko said. «It was six cars in total that burned and one fuel tanker.»
He said he watched a neighbor’s video showing men he believed to be cartel members forcing people out of their vehicles, then pouring gasoline and setting the cars on fire.
«They told the people to leave,» Marchenko said. «Then they were taking the gas and pouring the gas on the vehicle and waiting until everybody was clear before they were setting it on fire.»
Later in the afternoon, Marchenko ventured out to find food and said he saw pharmacies and corner stores completely burned down, adding that younger crowds had broken into nearby buildings to loot beer and cigarettes.
CARTELS OUTGUN POLICE: ROCKET LAUNCHERS SEIZED IN EL MENCHO RAID SPOTLIGHT CJNG FIREPOWER
Vehicles appear to carry multiple armed forces in Puerto Vallarta. (Fox News Digital)
Videos obtained by Fox News Digital show a helicopter hovering above his building, circling as if searching for someone, while Mexican armed forces and armored vehicles moved through the streets below.
Public transportation and Ubers had come to a complete halt, Marchenko added, saying that even if flights resume, he is unsure how they would reach the airport.
Despite the chaos, Marchenko noted that no one appeared to panic.
«There’s definitely not any panic from almost nobody here,» he said. «I think it’s interesting, almost everybody was just annoyed more than anything.»
SOCCER MATCHES POSTPONED AFTER MEXICO KILLS CARTEL LEADER ‘EL MENCHO’ NEAR WORLD CUP HOST
A plume of smoke rises in Puerto Vallarta on Feb. 22, 2026. (Fox News Digital)
Adriana Belli, 49, another visitor from Miami, told Fox News Digital that she had planned to spend over a week in Mexico to attend a wedding in Guadalajara and celebrate a friend’s birthday in Mexico City.
Belli said the sudden outbreak of violence was especially shocking, noting that she had spoken with American tourists staying at her Marriott resort who insisted the area was extremely safe after visiting Puerto Vallarta for 24 years.
She added that guests who had gone to the airport were under lockdown and were managing with the limited food available.
«A lot of the other tourists who had early morning flights were actually able to get to the airport, but they are now locked down in the airport and unable to leave,» she said. «So what we heard from other guests is they are just sort of surviving off of granola bars.»
A fuel tanker was set ablaze near a gas station in Puerto Vallarta on Feb. 22, 2026. (Fox News Digital)
Another source staying at a separate resort told Fox News Digital that restaurants and room service had been shut down. Guests were brought to the lobby for what was described as «the last bit of food.»
He added that this was the first trip where he and his wife were away from their 4-year-old son, and that he had to call home to tell family members where to find their will.
«This is the first time we’ve ever been away from him. My wife was saying, ‘We’re never leaving him again,’» he said. «I had to call my mom today and, you know, just tell her, ‘Look, here’s where my will is. We just created this. I don’t want you to panic, but I may need you to stay a couple days extra with my son.’»
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
He added that, despite the area appearing like a war zone, he is remaining optimistic that the authorities will restore order in the coming days.
Mexico’s Defense Department said Sunday that Oseguera was killed in a military operation. The news reportedly triggered widespread unrest and uncertainty across multiple states as Mexican authorities worked to stabilize the region.
location mexico,mexican cartel violence,world,latin america
DHS shutdown drags into week two as Iran threat, SOTU clash complicate Hill talks
Los controladores aéreos convocaron a un paro: en qué fechas y horas se realizará
El precio del Bitcoin cayó casi un 3% y consolida su tendencia hacia la baja
La inclusión de ostarine en la lista de sustancias prohibidas desafía a deportistas y autoridades
Tourists trapped in Puerto Vallarta recount cartel retaliation after El Mencho killed
El tierno video que Wanda Nara publicó en sus redes tras la visita que recibió en su casa de Nordelta: “Muero de amor”
Escándalo en MasterChef: una famosa abandonó a los gritos y acusando que está todo arreglado
Del himno peronista de Kelly Olmos al exabrupto de Agustina Propato: las perlitas del debate por la reforma laboral
Villarruel cuestionó la apertura de importaciones: «Sin industria, se pasa a depender de China»
“Ahora es la hora de jugarse”: el mensaje de Patricia Bullrich a los empresarios tras aprobarse la reforma laboral
ECONOMIA2 días agoVillarruel cuestionó la apertura de importaciones: «Sin industria, se pasa a depender de China»
- POLITICA2 días ago
“Ahora es la hora de jugarse”: el mensaje de Patricia Bullrich a los empresarios tras aprobarse la reforma laboral
- ECONOMIA2 días ago
Según un especialista, el precio de la carne se mantendrá alto “entre dos y tres años”
