The Comptroller of New York City, Brad Lander, has faced criticism from financial officers of 14 conservative states for pressuring major retailers to start selling the abortion pill mifepristone. Lander has sent letters to CEOs of companies such as Walmart, Costco, Kroger, Albertsons, and McKesson urging them to begin dispensing mifepristone as soon as possible. He argues that mifepristone should be available in all states where abortion is legal, stating that it benefits customers, employees, and generates long-term shareholder value.
Lander’s decision to appeal to the CEOs of these companies was influenced by the fact that New York City’s pension funds hold over $1.3 billion in total shares of these companies. However, the financial officers of conservative states, including Texas Comptroller Glenn Hegar, have criticized Lander for interfering in the marketplace and pressuring companies like Costco to sell the abortion pill. They argue that Lander’s actions are an attempt to politicize these businesses without considering their financial well-being and customer demands.
The state financial officers have urged companies like Costco to ignore Lander’s prodding to sell the abortion pill, stating that these actions are inappropriate and are an attempt to impose political views on the commercial marketplace. The financial officers come from states with anti-abortion leadership and complete abortion bans or restrictions in place. Conversely, blue states like New York have been more active in expanding abortion services, including distributing abortion pills, following the Supreme Court’s 2022 decision overturning the Roe vs. Wade ruling.
In a surprising decision, the Supreme Court ruled in 2022 that states should determine whether and when a woman can terminate a pregnancy, reversing the federal right established by the Roe vs. Wade ruling in 1973. Faith-based anti-abortion investors have also urged retailers not to sell the abortion pill. Lander’s office had no immediate comment on the criticism he received from conservative states’ financial officers, but he is unlikely to back down from his stance. He warned companies about potential harm such as responsiveness to market opportunities, mitigation of reputational risks, and commitment to maximizing sales and shareholder value.
