Governor DeSantis bans the use of ESG criteria in state pension fund management (2022)
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On July 27, 2022, Florida Governor Ron DeSantis (R) announced he had banned the use of ESG criteria in the management of Florida’s state-sponsored pension funds. The Governor made his announcement at a press conference during the day and then reiterated it that evening on Fox News’s “Tucker Carlson Tonight”:[1]
“The Florida State Pension System will now be under a 'flat ban' against incorporating the globalist ESG platform into its investments, Gov. Ron DeSantis announced on Fox News Wednesday.
"DeSantis told 'Tucker Carlson Tonight' the proponents of ESG – which places what its supporters say are environmentally-necessary regulations – like to 'wiggle around' definitions and verbiage to supersede the purely fiduciary responsibilities of fund managers.
"'It's basically a way for [ESG proponents] to do politics,' the Republican governor said. 'So we're going to make sure that that fiduciary duty is defined very clearly and that they stick to that. We also want to provide protections for people in the financial marketplace from being discriminated against based on ideology.'
"DeSantis said some Wall Street banks are already inserting their politics in their investments in other ways – discriminating against contractors unfriendly to unfettered immigration or those firms who invest in firearms manufacturers while Democrats seek to pass gun control laws opponents say infringe on the Second Amendment.”
See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
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