The placement of Wells Fargo, JP Morgan Chase, and Bank of America on the list makes them ineligible for state and local government contracts.

Despite legislation and political rhetoric, demand for environmental, social, and governance focused debt remains strong.

"When the rating agencies developed and rolled out their ESG scores, they said their ESG scores would not impact an issuer's credit rating. We are holding them to their word," said Ben Watkins, director of the state Division of Bond Finance.

In a supply-challenged market, foreign investors can play a role in buying taxable munis. 16Rock Asset Management's James Pruskowski discusses a 2023 reset in the muni market. Lynne Funk hosts (29 minutes)

"What are our options? You either pick these banks or you don't. If you don't, business shuts down. We stop building infrastructure," said state Treasurer John Schroder, the bond commission chair.

Gov. Laura Kelly allowed the bill's enactment without her signature, citing its "potential unforeseen consequences."

Proceeds will be used to refund some bonds that had been issued to finance or refinance eligible clean water and drinking water projects in the state.

The Florida Legislature has passed a law that bans the issuance of municipal bonds, such as green bonds that use environmental, social or governance criteria. The bill now heads to Gov. Ron DeSantis for his signature.

"Florida may have the statutory authority to abrogate an agreement, but  what does that say for things going forward?" asks Joseph Krist, publisher of Muni Credit News. "Why couldn't an anti-development administration do the same thing in reverse to somewhere like the Villages?"

Neal Pandozzi, a partner at the law firm of Bowditch & Dewey, talks with Chip Barnett about what environmental social and governance really means for public finance, separating politics from policy, polemics from principles. (34 minutes)

Participants in the Texas municipal market raised concerns over bills that would constrain debt issuance.

Jean-Yves Fillion, CEO of BNP Paribas USA, talks with Chip Barnett about how the bank leverages its commitment to tennis to help the communities it serves and expand environment goals that help the planet. Taped live at the BNP Paribas 2023 Open in Indian Wells California. (11 minutes)

Moody's Investors Service ran a series of stress tests on $38 billion in state highway revenue bonds it rates to gauge the risk to fuel-tax backed bonds.

Comptroller Brad Lander said the pension funds adopted a measurable and transparent plan that could serve as a model for other investors.

"Folks are aware of possible pressure that could weigh on the market, but attitudes are still generally more constructive than negative at this time," says Tom Kozlik of HilltopSecurities. 

The authority hopes to have solar and wind provide 30% of the islands' electricity within two years.

The measure, which passed with slim vote margins in the Republican-controlled legislature, could drive banks out of the state's market, according to the governor.

The bill creates an ESG Oversight Committee to compile a list of financial services providers determined to be "discriminating" against the fossil fuel, firearm, or ammunition industries.

The state, through its established conduit issuer, is eyeing new financing products to promote climate goals as its pursues $1.2 billion of federal funds.

Big national banks would be banned from state and local government contracts in Oklahoma if their policies "discriminate" against the firearm industry.