(JustPatriots.com)- Last Tuesday, Florida Governor Ron DeSantis formally approved measures proposed over the summer that will ensure the state’s investments and employee pension plans are based on maximizing profit instead of advancing the environmental, social, and governance (ESG) agenda.
In a statement announcing the move, DeSantis said “woke corporate elites” who are instituting ESG to “promote a radical agenda” is costing “everyday consumers.” According to the governor, the approval of the new investment policies will ensure that “all investment decisions focus solely on maximizing the highest rate of return.”
The measures, which were introduced in August, will ensure that public fiduciaries prioritize the highest return on investments for taxpayers and retirees “without considering the ideological agenda” of the ESG movement.
All investment decisions will have to be based only on financial factors and must not include ”the consideration of the furtherance of social, political, or ideological interests,” the statement said.
The governor said the measures make it clear that “ESG considerations will not be tolerated here in Florida.”
According to the statement, Governor DeSantis has also proposed legislation for the upcoming legislative session both to codify the measures approved and further rein in the use of ESG practices throughout the state’s financial sector.
The governor’s proposed legislation includes several primary elements.
The proposals seek to prohibit banks, credit card companies, and money transmitters from discriminating against consumers based on religious, political, or social beliefs.
Additionally, the governor also wants to bar financial institutions from considering “ESG Credit Scores” in banking and lending practices designed to prevent Floridians from obtaining loans, bank accounts, lines of credit, or other financial services.
The proposed legislation would also prohibit fund managers from the State Board of Administration from considering ESG factors when investing the state’s money and require them to only consider maximizing the return on investment on behalf of Florida retirees.