By Jim Jaquess
Governor DeSantis Announces Protections From the Threats of ESG in Florida
In late July, Governor DeSantis announced a series of protections for Floridians from the environmental, social and corporate governance (ESG) movement that threatens the vitality of the American economy and Americans’ economic freedom by targeting disfavored individuals and industries to advance a woke ideological agenda.
“The leveraging of corporate power to impose an ideological agenda on society represents an alarming trend,” said DeSantis. “From Wall Street banks to large asset managers and big tech companies, we have seen the corporate elite use their economic power to impose policies on the country that they could not achieve at the ballot box. Through these actions we are protecting Floridians from woke capital and asserting the authority of our constitutional system over ideological corporate power.”
Governor DeSantis’ proposed legislation for the 2023 Legislative Session will:
- Prohibit big banks, credit card companies and money transmitters from discriminating against customers for their religious, political, or social beliefs.
- Prohibit State Board of Administration (SBA) fund managers from considering ESG factors when investing the state’s money.
- Require SBA fund managers to only consider maximizing the return on investment on behalf of Florida’s retirees.
The proposed legislation will amend Florida’s Deceptive and Unfair Trade Practices statute to prohibit discriminatory practices by large financial institutions based on ESG social credit score metrics. This “ESG score” is a framework created to force companies to meet ESG standards and arbitrarily includes metrics based on political affiliation, religious beliefs, certain industry engagement, and ESG benchmarks. Violations will be considered deceptive, and unfair trade practices will be punished according to the law.
At the next State Board of Administration meeting, Governor DeSantis will propose an update to the fiduciary duties of the State Board of Administration investment fund managers and investment advisors to clearly define the factors fiduciaries are to consider in investment decisions. Environmental, social, or corporate governance factors will not be included in the state of Florida’s investment management practices.
Governor DeSantis is working with like minded states to leverage the investment power of state pension funds through shareholder advocacy to ensure corporations are focused on maximizing shareholder value, rather than the proliferation of woke ideology. This means protection of your assets that are tied up in retirement funds. Another win for the people of Florida.
Vote YES on WaltonCounty School District Referendum
Everyone in Walton County will have the opportunity to vote on the Walton County School District Referendum during the primary election on August 23rd. This is a key referendum and should NOT be confused with the upcoming sales tax increase on the ballot this fall in the General Election.
This referendum will not increase taxes, it is simply permitting the Walton County School District to continue the current one-half mill ad valorem millage for the fiscal years beginning July 1, 2023 and ending June 30, 2027. This funding will be used for operating expenses necessary to recruit and retain quality teachers, preserve extra-curricular programs and provide instructional materials and technology to maintain the excellent quality of Walton County’s public school system.
Please vote YES on this all important referendum so critical to our school system.
Jim Jaquess is Vice Chairman of the Walton County Republican Executive Committee.
Author: SWal Life
Views: 0
