The Comptroller of New York City, Brad Lander, has been criticized by financial officials from 14 conservative states for pressuring major US retailers to sell the abortion pill, mifepristone. Lander wrote letters to CEOs of companies such as Walmart, Costco, Kroger, Albertsons, and McKesson in July urging them to begin dispensing mifepristone as soon as possible. He believes that mifepristone should be available in all states where abortion is legal, as it benefits customers, employees, and increases 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, state financial officers, including Texas Comptroller Glenn Hegar, have criticized Lander for interfering in the marketplace and attempting to politicize the business decisions of companies like Costco. They believe that Lander’s actions are an attempt to push his own radical position without considering the financial wellbeing of the companies or their shareholders.
The state financial officers pointed out that Costco has acknowledged that there is no customer demand for mifepristone, and they believe that Lander’s actions are inappropriate and an attempt to push political views through the commercial marketplace. They are urging Costco CEO Ron Vachris to ignore Lander’s prodding to sell the abortion pill. The letter was co-signed by financial officers from states such as Alaska, Idaho, Kansas, Louisiana, Mississippi, Nebraska, Nevada, Ohio, Oklahoma, South Carolina, South Dakota, Utah, and Wyoming, all of which have anti-abortion leaders in control.
In the wake of the Supreme Court’s 2022 decision to overturn the 1973 Roe vs. Wade ruling, which made women’s choice to have an abortion a federal right, some states have become more active in expanding abortion services, including distributing abortion pills. The Supreme Court’s decision in 2022 shifted the power to determine whether and when a woman can terminate a pregnancy to the states. Faith-based anti-abortion investors have also urged retailers not to sell the abortion pill, adding to the controversy surrounding the issue.
Despite the criticism from financial officials of conservative states, Lander is unlikely to back down from his stance. In his letters to retailers, he warned them of potential harm, including issues such as responsiveness to a growing market opportunity, mitigation of potential reputational risks, and commitment to maximizing sales and long-term shareholder value. It remains to be seen how the situation will unfold as Lander continues to advocate for the sale of the abortion pill by major retailers in the US.
