Florida: Governor Ron DeSantis Leads Alliance of 18 States to Fight Against Biden’s ESG Financial Fraud
The Floridant/10224567

TALLAHASSEE, Fla. ~ Today, Governor Ron DeSantis of Florida and the governors of Alabama, Alaska, Arkansas, Georgia, Idaho, Iowa, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Oklahoma, South Dakota, Tennessee, Utah, West Virginia and Wyoming have formed an alliance to push back against President Biden's environmental social corporate governance (ESG) agenda. This agenda is seen as destabilizing the American economy and the global financial system.

Earlier this month Congress took action to pass legislation which would keep politics out of Americans' retirement funds; however President Biden has promised to veto this measure in order to further his progressive agenda. In a joint statement proposed by Florida these states committed to lead state-level efforts to protect individuals from the ESG movement that threatens the vitality of the American economy and Americans' economic freedom. This includes removing all state pension funds and state-controlled investments from firms that follow the ESG model of 'politics before fiduciary duty'.

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Governor DeSantis stated "At my direction Florida has led the way in combatting the pernicious effects of the ESG regime by directing our state pension fund managers to reject ESG and instead focus on obtaining the highest return on investment for Florida's taxpayers and retirees. At the time I said we would spearhead an initiative to join with other like-minded states to send an even louder message to the financial industry that the American people have rejected ESG at the ballot box and ideologues cannot and should not circumnavigate the will of the people. Today we have delivered on that promise."

Florida has emerged as America's economic engine with an unemployment rate consistently lower than that of other states as well as having had a higher rate of business formations than any other state. Governor DeSantis announced legislation last month in order to protect Floridians from ESG which includes prohibiting big banks trusts and other financial institutions from discriminating against customers for their religious political or social beliefs; prohibiting banks that engage in corporate activism from holding government funds; prohibiting all state entities from considering giving preference or requesting information about ESG as part of procurement or contracting processes; directing Attorney General and Commissioner of Financial Regulation to enforce these provisions; as well as directing SBA Trustees at August 2022 meeting to pass a resolution specifying investment decisions must be based only on pecuniary factors which do not include consideration for social political or ideological interests.

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In December 2021 Governor DeSantis also directed SBA take back control of state pension fund's proxy voting from outside fund managers who were pursuing ideological outcomes which posed a threat to return on investment for state funds.

The alliance formed today is seen as a strong message sent by these states against President Biden's progressive agenda while protecting individuals from potential threats posed by ESG movement towards American economy and economic freedom.

Filed Under: Government, State

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