Todd Russ
OKLAHOMA CITY — Newly elected State Treasurer Todd Russ said his priorities will be evaluating the state’s investment partners and focusing on return of unclaimed property to its owners.
Russ, who last year “termed out” of the Legislature after 12 years in the Oklahoma House of Representatives, was sworn in last week as the 20th State Treasurer of Oklahoma.
The Cordell Republican was a banker for more than 30 years, a farmer, rancher, and small business owner.
“I am deeply committed to evaluating the systems used to manage our money as a state,” he 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 of the state’s investment partners and their policies regarding Environmental, Social, and Governance to evaluate risk and growth opportunities.
“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 nonfinancial 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.”
That means he intends to enforce a new state law, the Energy Discrimination Elimination Act of 2022, which requires the State Treasurer to divest state money from any fund or financial institution that boycotts the oil and gas industry.
Russ said he also is 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.