Wed Aug 24, 2022 – 5:21 pm EDT
TALLAHASSEE, Florida (LifeSiteNews) – Republican Gov. Ron DeSantis declared left-wing environmental, social and corporate governance (ESG) standards “dead on arrival in Florida” Tuesday with the passage of a resolution requiring state pension investments be made strictly on performance rather than ideology.
DeSantis and State Board of Administration (SBA) trustees passed a resolution directing the managers of Florida’s pension funds to clarify that their fiduciary duties require investment decisions be made “only on pecuniary factors [which] do not include the consideration of the furtherance of social, political, or ideological interests,” such as ESG factors. The resolution also orders a comprehensive review and report on “governance policies over the voting practices of the Florida Retirement System Defined Benefit Pension Plan.”
ESG is essentially a scoring system that incentivizes investing in companies not on the basis of their performance for customers and shareholders but rather on their fealty to so-called “social justice” principles such as diversity and environmentalism. It is one of the reasons why so many once-apolitical businesses have in recent years taken stances on issues such as homosexuality, transgenderism, race relations, and abortion.
In Florida, we don’t want
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