WLRN reported that at a press conference, Governor DeSantis announced that he would propose this legislation to the legislature. DeSantis was appointed by Senate President Kathleen Passidomo and House Speaker Paul Renner at Florida Southwestern State College in Naples to make the announcement.
For those who don’t know, ESG stands for environmental and social governance policies. These policies typically strongly emphasize investments related to long-term sustainability and environmental protection of the planet. They are often policies directed at pumping investment funds into woke policies and other goals of the left-wing liberal movement.
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DeSantis said the following about where things stand: “What I think what it’s evolved into is a mechanism to inject political ideology into investment decisions, corporate governance, and really just the everyday economy.”
February 16, 2023
The Governor also said that the ESG policies are often pushed by liberal elites and other people in favor of “woke” policies. He says that these policies do not put a priority on financial interests. Instead, they are all about getting specific woke policies into the mainstream banking system no matter what.
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DeSantis said the following about it all: “Now, this is something that I think is very serious, because I think the policies are bad. I think having a politicized economy is not the way that you want to go,” and “I think ultimately it does represent a threat not just to a smooth, functioning, prosperous economy, but also our very freedom itself.”
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February 16, 2023
WLRN reports that DeSantis wants to end ESG investing to “protect Floridians” from these types of practices in banking. In particular, he wants to aim for banks that make decisions based on “social credit scores” and other ambiguous determinations that might discriminate against customers based on their religious, political, or cultural beliefs. He fears that this could be a natural outcome of allowing banks to use social credit scores to make decisions about the people they choose to do business with. In short, DeSantis feels that this is something that shouldn’t be risked.
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DeSantis said: “We are also going to, in the state of Florida, prohibit the same institutions from using so called social credit scores and making banking and lending decisions. That is a way to try to change people’s behavior,” and “It’s a way to try to impose politics on what should just be economic decisions. And so, we’re making sure to protect this as a sphere of economic decision making, not political activism, we are also not going to house in either the state or local government level ... this woke ESG agenda.”
This is a big step in favor of eliminating ESG banking from Florida.
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