Democrat Dustin Granger Announces Run For State Treasurer
On Tuesday, financial planner Dustin Granger announced his candidacy for Louisiana state treasurer, with a promise to steer the state's investments towards clean energy, breaking with the traditional approach of investing in the oil-based economy. If elected, Granger, who hails from Lake Charles and is a member of the Democratic Party, intends to reverse the investment course adopted by his Republican predecessor, John Schroder. In 2020, Schroder withdrew $800 million in state funds from BlackRock, a New York-based financial firm, as a protest against the company's environment, social, and governance policies.
Schroder's move was praised by conservative groups and pundits, who oppose investment decisions that account for the impending effects of global warming. His action also earned him national attention, and he is now one of the Republican candidates for governor. Granger's candidacy is the first major Democratic announcement for a statewide office in Louisiana this year, at a time when no Democrat except John Bel Edwards has won any of the statewide positions since 2007.
Granger said it makes financial sense for Louisiana to move away from investing in the oil and gas industry, which he claims the state has supported for decades, with little to show for it, resulting in an economy that ranks last in the nation and a climate crisis that threatens to exacerbate the situation. Granger emphasized that it's time for Louisiana to embrace the technologies of the future and invest in a new Louisiana energy revolution with renewable infrastructure projects that bring sustainable, high-paying jobs.
As a financial advisor, Granger claims his job is to ensure that his clients have income for the rest of their lives. He promised to use the same smart investing approach he has used to help hundreds of families over the last two decades as a financial advisor to invest in all of Louisiana.
The treasurer's role is not well-known; they invest state trust funds and other funds to generate funds that help pay for public education, healthcare for the poor, and dozens of other state programs. The treasurer also chairs the Bond Commission, which decides which state infrastructure projects approved by the legislature will receive funding. Schroder and his predecessor, John Kennedy, now a U.S. senator, have an impact on how much money the state's retirement systems invest in investment firms or in industries such as oil and gas.
Granger intends to take a new approach if elected. He plans to embrace the technologies of the future and invest in a new Louisiana energy revolution with renewable infrastructure projects that bring sustainable, high-paying jobs. His vision for Louisiana is based on reality, not political ideology or backroom deals, and it's the type of smart investing he's used to help hundreds of families as a financial advisor over the last two decades.