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Florida governor shares ESG concerns (2023)
| Environmental, social, and corporate governance |
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
Florida Gov. Ron DeSantis (R) spoke at a college on February 13 where he expressed concerns about ESG and discussed government efforts to oppose ESG investing:
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Florida Gov. Ron DeSantis spoke at Florida SouthWestern State college’s Collier Campus in Naples. Signage at the event read “Gove spoke at a college on February 13 and again attacked ESG and, again, discussed government efforts to address the matterrnment of Laws, Not Woke Politics.” The governor proposed new legislation to end ESG “woke” banking. He called it a push against “these elites” attempting to “inject political ideology into investment decisions, corporate governance, and really just the every day economy,” saying it would not work out well in Florida or in the United States, and that there wasn’t much support among everyday Americans…. DeSantis said the purpose of ESG was to limit oil and gas, and that companies using ESG “did not want us to be energy independent.” He did not cite specific examples of either specific companies or statements made to that effect by any. “It affects our national security. When you have to go to foreign countries that are hostile to us to try to get energy, that is not a good place to be in,” DeSantis said. “What ESG wants to do is put a premium against that type of business. It’s also bad for our national security, when you’re doing this stuff with ESG, you are increasing the costs that businesses have to comply with in the United States.” DeSantis said it hurt national interests by forcing the U.S. to use foreign supply chains, saying that America had to recapture the supply chain rather than rely on countries like China for production. He referred to circumstances during the COVID-19 pandemic as an example, and that China didn’t deal fairly. Switching to investment policies, DeSantis said “it also violates the fiduciary duty that executives have to the shareholders have to publicly traded companies,” pointing to how funds used to produce returns on pensions and retirement funds were affected…. DeSantis said ESG instead “does an end run around” elections for deciding governing policies. He said companies who say having an enforced border policy was wrong and “could never win favor” during an election. To that point, DeSantis called ESG a “distortion of a government of by and for the people,” which lacked accountability to Americans.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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