Naples, FL–This week, Florida Governor Ron DeSantis announced a legislative proposal that will protect Floridians from environmental, social, and governance (ESG) corporations. The Foundation for Government Accountability (FGA) applauds Gov. DeSantis for taking a bold stance against radical leftist corporate governance and for protecting economic freedom in Florida.
The legislation would prohibit state board of administration (SBA) fund managers from making investment management decisions based on political factors. The proposal would also prohibit large financial institutions from discriminating against Floridians based on political affiliation or religious beliefs.
Specifically, the legislative proposal would:
• prohibit big banks, credit card companies and money transmitters from discriminating against customers for their religious, political, or social beliefs
• prohibit 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
“Once again Governor DeSantis is protecting working Floridians, entrepreneurs, and our retirees and ensuring Florida remains a place where everyone can prosper. ESG is about corporate elites picking winners and losers and punishing businesses and individuals who disagree with them,” said Tarren Bragdon, FGA President and CEO. “Such economic discrimination is wrong, whether done by those investing money for government retiree pensions or by banks and other financial institutions.”
The Foundation for Government Accountability (FGA) is a non-profit, multi-state think tank that promotes public policy solutions to create opportunities for every American to experience the American Dream. To learn more, visit TheFGA.org.