DeSantis Outlaws ESG in Florida Investments, Procurement
Fund managers for state and local entities in Florida will be prohibited from considering ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. factors in any investment decisions, and government entities will not be allowed to request ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. information from suppliers in the procurement process, according to new legislation proposed on Monday by Florida Governor Ron DeSantis.
The new proposed laws form the latest move in the ongoing anti-ESG movement by Republican politicians in the U.S., which have seen several states target investors over their support for energy transition-focused investments and disclosure, warn law firms about the advice they provide to clients regarding ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. initiatives, and pressure proxy advisory firms over their support for climate and DEI-related issues.
DeSantis has been among the most vocal anti-ESG advocates, barring fund managers for state pension funds last year from incorporating ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. factors in the investment process, and recently pulling $2 billion from BlackRock over its use of ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. factors.
In a statement announcing the introduction of the new legislation “to protect Floridians from the woke environmentalEnvironmental criteria consider how a company performs as a steward of nature., socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates., and corporate governanceGovernance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights. (ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments.) movement,” DeSantis said:
“By applying arbitrary ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. 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.”
Key proposals of the new proposed legislation include prohibiting the use of ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. in all investment decisions at the state and local level, and prohibiting all state and local entities from considering – or even requesting – ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. information as part of the procurement and contracting process. The new laws would also ban the use of ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. factors by state and local governments when issuing bonds,
Additionally, the new proposals would not allow the use of “SocialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. Credit Scores” in banking and lending practices, and would prohibit banks engaged in “corporate activism” from holding government funds as a Qualified Public Depository.
In a socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. media post following the announcement, DeSantis added:
“ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. is a threat to the American economy and the individual freedoms that our country is built upon. It is dead on arrival in Florida.”
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