DeSantis Launches Alliance Against ESG Agenda

On August 23rd last year, Florida Governor Ron DeSantis worked alongside the State Board Administration to pass a resolution that directed the state of Florida’s fund managers to focus their efforts on profit over politics. The resolution came in response to President Joe Biden’s ESG initiative which encouraged investment managers to pump taxpayer funds into institutions that prioritized environmental, social, and corporate governance over financial growth. If you’re wondering why an investment firm would focus on anything besides lucrative investment opportunities on behalf of the cliental, in which, they were hired to represent—you’re not alone.

Last year, in an interview with Tucker Carlson, Governor DeSantis not only discussed the basis behind this maneuver; but also spoke about creating a coalition of states that would join to on behalf of the financial protection of their constituents:

As he has done so often, Governor DeSantis followed through with this plan. On Thursday March 16th, DeSantis launched an initiative along with 18 other states to fight against “the pernicious effect of the ESG regime by directing our state pension fund mangers to reject ESG and instead focus on obtaining the highest return on investment for Florida’s taxpayers and retirees.”

This announcement comes nearly a month after President Biden promised to veto a piece of legislation passed by Congress to keep politics out of America’s retirement funds. Likely anticipating this veto, the state of Florida along with Alabama, Alaska, Arkansas, Georgia, Idaho, Iowa, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Oklahoma, South Dakota, Tennessee, Utah, West Virginia, and Wyoming have put forth a proposal to protect their constituents from the financial repercussions of ESG on the state-level.

The joint statement stipulates two specific efforts the states will collectively exercise:

1. Protecting taxpayers from ESG influences across state systems: Among other actions, this may include blocking the use of ESG in all investment decisions at the state and local level, ensuring that only financial factors are considered to maximize the return on investment, protecting retirees and taxpayers alike. This may also include eliminating consideration of ESG factors by state and local governments when issuing bonds or prohibiting state fund managers from considering ESG factors when investing taxpayer money.

2. Protecting citizens from ESG influences in the financial sector: Among other actions, this may include banning the financial sector from considering so called “Social Credit Scores” in banking and lending practices aimed to prevent citizens from obtaining financial services like loans, lines of credit, and bank accounts. This may also include stopping financial institutions from discriminating against customers for their religious, political, or social beliefs, such as owning a firearm, securing the border, or increasing our energy independence.

In a public statement on Thursday, DeSantis explained, “Florida has emerged as America’s economic engine…We will not stand idly by as the stability of our country’s economy is threatened by woke executives who put their political agenda ahead of their clients’ finances.”

Click here to read view the full joint statement.

More to come on this story as details continue to emerge.