CJR Staff
March 18, 2023

DeSantis Gathers Army Against Biden's ESG Legislation

Republican Florida Governor Ron DeSantis has been joined with governors of 18 other states to take action against President Joe Biden.

The governors are attacking Biden's environmental, social and corporate (ESG) agenda.

"DeSantis, along with 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 are forming what they have described as an 'alliance' pushing back against Biden’s radical ESG agenda," reports Breitbart.

They Aren't Backing Down

The ESG is a "leftist form of activism used to influence corporations and Wall Street to consider partisan political positions unrelated to their actual businesses or organizations in their decision-making or investment actions," reports Breitbart News.

The governors' joint statement reads:

The proliferation of ESG throughout America is a direct threat to the American economy, individual economic freedom, and our way of life, putting investment decisions in the hands of the woke mob to bypass the ballot box and inject political ideology into investment decisions, corporate governance, and the everyday economy.

We as freedom loving states can work together and leverage our state pension funds to force change in how major asset managers invest the money of hardworking Americans, ensuring corporations are focused on maximizing shareholder value, rather than the proliferation of woke ideology.

DeSantis said, "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."

DeSantis continued, "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 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."

"What ESG says is 'No, we’re not going to do, even if it would do a better return; we’re not going to allow you to invest in certain areas,'" DeSantis added, noting ESG is "constricting the ability of people to invest your money and that means you’re not going to do as well as you could have."

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