Mon May 8, 2023 – 6:17 pm EDT
TALLAHASSEE, Florida (LifeSiteNews) – Florida Republican Gov. Ron DeSantis signed into law a formal ban on so-called “environmental, social, and corporate governance” (ESG) standards influencing state pension funds, strengthening previous executive actions and building on the governor’s vow to make the Sunshine State the place “where woke goes to die.”
HB 3 establishes that officials responsible for investing state and local government funds must make their decisions strictly on what is “expected to have a material effect on the risk or returns of an investment based on appropriate investment horizons consistent with applicable investment objectives and funding policy,” and “may not subordinate the interests of the people of this state to other objectives, including sacrificing investment return or undertaking additional investment risk to promote any nonpecuniary factor,” such as “the furtherance of any social, political, or ideological interests.”
The law also forbids banks and other financial institutions from denying services to individuals on the basis of their political views or religious beliefs, forbids public bond issuers from partnering with entities that use ESG, bans state and local government entities from considering political or cultural views in evaluating potential
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