On Monday, Ron DeSantis outlined a new proposal that would restrict ESG or Environmental Social Governance more. This fits right in with DeSantis’ anti-woke politics.
ESG is an attempt to inject social justice into finance. It’s part of what’s currently driving social revolt in parts of Europe.
CBS 12 in Florida reports:
Gov. Ron DeSantis adds more prohibitions on ESGGov. Ron DeSantis spoke on additional proposals that prevent ESG (environmental social governance).The conference was held at Florida Southwestern State College in Naples, Fla.He said ESG poses a threat to the American Economy and individual economic freedom, he further said it’s an attempt for corporate’s elite to discriminate against those who do follow a particular “ideological agenda.” His proposal will outlaw this.“By applying arbitrary ESG financial metrics that serve no one except the companies that created them, elites are circumventing the ballot box to implement a radical ideological agenda. Through this legislation, we will protect the investments of Floridians and the ability of Floridians to participate in the economy,” DeSantis said, at the news conference.
Watch the clips below:
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Caroline Downey writes at National Review:
The ESG movement promotes an investment discipline which emphasizes not just financial returns, but also grades companies on things such as their ethics, board diversity, political donations, and sustainability efforts. Speaking during a press conference in Naples on Monday, DeSantis defined ESG as a “mechanism to inject political ideology into investment decisions, corporate governance, and really just the everyday economy.”As part of the proposed legislation DeSantis unveiled was a plan to codify into statute a resolution enacted last year that prohibited ESG investing in pension funds for state and local government employees, including firefighters, police officers, and teachers.The proposed legislation would restrict banks that hold public funds – known as qualified public depositories – from utilizing ESG in in their investment decisions. Investment firms that engage in ESG would also be barred from being lenders to the state or to local governments.
Other Republican governors should follow DeSantis’ example on this.
Featured image via YouTube.
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