The environmental, social, and corporate governance (ESG) program of President Biden was resisted today by Governor Ron DeSantis and the governors of 17 states, causing the American economy and the international financial system to become unstable.
Congress Protects Citizens’ Money
Congress acted a few days ago to enact legislation that would bar politics from citizens’ retirement money, but President Biden vowed to reject it in order to advance his liberal agenda.
In a joint declaration put forth by Florida, such states agreed to take the lead on attempts at the state level to defend citizens from the ESG action. This action jeopardizes the well-being of the American economy and the liberty of the market.
Several of these efforts include withdrawing all state pension funds and investment opportunities from companies that adhere to the ESG model of politics before fiduciary responsibility.
DeSantis taking the lead with 18 other states to fight back against Biden's ESG.
That's called be A BOSS.https://t.co/48OmqvKQjo
— Bill Mitchell (@mitchellvii) March 16, 2023
Florida has taken the lead in battling the harmful effects of the ESG regime, according to Governor Ron DeSantis.
At his direction, Florida has directed their state pension money managers to dismiss ESG and rather concentrate on acquiring the best possible investment return for Florida’s taxpayers and retired people.
He said they would lead an effort to unite with other states that shared their views in order to send the banking industry an even stronger message. That message is the American people opposed ESG at the polls and ideologues ought to not ignore popular opinion.
They have fulfilled that pledge as of right now. With a continuously lower unemployment rate than the national average and the highest proportion of business development of any state, Florida has established itself as America’s economic engine.
They won’t watch helplessly while woke CEOs put their political agenda before the financial well-being of their consumers, endangering the integrity of our nation’s economy.
People want more money to live on in retirement not less and ESG gives you less to live on. https://t.co/K1ZpyLs22g
— Bruce Schlink (@bruce_schlink) March 17, 2023
DeSantis Stands for Citizens
Governor DeSantis unveiled measures last month to shield Floridians from ESG. This law will protect Floridians’ economic freedom by:
- prohibiting large banks, trusts, and other financial institutions from treating clients unfairly because of their political, social, or religious convictions. This includes whether they favor border security, gun ownership, or boosting our level of energy independence.
- prohibiting the use of so-called “Social Credit Scores” in banking and lending practices that are intended to make it difficult for Floridians to open bank accounts, lines of credit, and other types of credit.
- preventing banks that participate in corporate activity from acting as Qualified Public Depositories for government monies (QPD).
- having state and local governments forbid the use of ESG in all investment decisions, requiring fund managers to only take into account financial variables that optimize profit.
- preventing any state or municipal agency from taking into account, favoring, or seeking details about ESG as part of the contracting and procurement process. This includes direct support groups.
- prohibiting state and local governments from using ESG elements when issuing bonds, as well as placing contractual restrictions on rating organizations whose ESG ratings have a detrimental influence on the issuer’s bond ratings.