Governor Ron DeSantis 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 formed an alliance to push back against President Biden’s environmental, social, corporate governance (ESG) agenda 'that is destabilizing the American economy and the global financial system'.
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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 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, such as removing all state pension funds and state-controlled investments from firms that follow the ESG model of ‘politics before fiduciary duty.’
“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,” said Governor Ron DeSantis.
“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.
"We have delivered on that promise. Florida has emerged as America’s economic engine, with an unemployment rate consistently lower than the nation’s and the highest rate of business formations of any other state. 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.”
"To protect individuals from the ESG movement that threatens the vitality of the American economy and Americans’ economic freedom, we agree to lead state-level efforts, including:
I. 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.
II. 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." ■
A very strong low pressure system currently just offshore of San Francisco Bay will continue to bring high winds, heavy rain, and heavy mountain snow for California and adjacent areas of the Southwest through tonight and Wednesday as the latest in a series of atmospheric rivers impacts the West.