However, this investment includes investing money from Americans to support his political agenda. Florida has allied with 18 other states to fight against Biden’s controversial ESG agenda.
According to The Hill, “The states argue that Biden’s backing for socially-conscious ESG investing, under which investors weigh sustainability and ethical considerations, is a threat to the U.S. economy.”
The states released a joint letter to explain why they are pushing back against ESG investing. Per The Hill, “‘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,’ the states wrote in a joint statement.”
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So far, Republicans are pushing back against ESG factors in Congress too. They are behind a bill prohibiting retirement fund managers from considering ESG factors. They say they are against the government using American money to fund their woke ideas, a practice that threatens the American economy. However, they expect Biden to veto it when it hits his desk.
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This may be President Joe Biden trying to undo what President Trump did as a President. However, that’s likely not the case. As Biden ages, he continues to learn further and further to the left.
This is particularly concerning when it comes to retirement funds. People invest in retirement funds to build a nest egg for the future. However, when those funds are invested in companies that are more likely to go broke, there’s a chance that a person’s nest egg isn’t what they think it is. What do you think about ESG investing?
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