In a priority of Gov. Ron DeSantis and other Republican leaders, House Commerce Chairman Bob Rommel, R-Naples, filed a proposal (HB 3) on Monday that would seek to block government investment decisions involving “environmental, social and governance” standards, known as ESG.
The bill, filed for the legislative session that will start March 7, also would bar similar considerations in government contracting.
The bill would require that investment decisions by the state and local governments be made “solely on pecuniary factors” and would prevent “sacrificing investment return or undertaking additional investment risk to promote any non-pecuniary factor.”
Republican leaders in Florida and other states have targeted ESG for taking into account issues such as climate change, racial inequality and supply-chain labor standards.
But Larry Fink, CEO of BlackRock, a massive asset-management firm, said in a letter last year to corporate executives that companies using the standards are “performing better than their peers.” The bill also would prohibit considering “social, political or ideological interests” in government contracting.
–News Service of Florida
Joseph Barand says
DeSantis lost $300 Million from the Florida State Retirement Fund by his investments in Russia. All teachers fire fighters, LEO’s shoul be outraged and concerned about their future. The FSRF is in dire shape and will not be able able to meet the expectations and promises that you where told you earned. Keep voting for the Republican, Conservative, Evangelists and you and your family will be screwed big time while the Crooks you voted for will be relaxing on some luxury island and laughing at the fools who put them in a position to cheat, steal and abuse you.
Justsayin says
Norfolk Southern has a higher ESG score than Tesla. That should tell you a lot about what ESG is.
Laurel says
Politician (apparently, Democrat) Linus will have to unlearn (undo) all the misinformation and mistakes Republican Lucy puts forth. My God, what a waste of time and money! My beautiful Florida is rapidly becoming a joke.
People like their organic foods and products, and they like to have a healthy Earth. They like clean air, and to drink and play in clean water. They like their friends of different colors. They like their freedom of choices. I think this is the Republicans last stand if they do not go more with the flow.
Today’s kids (and geezers) are not going to stand for it. Most of us, if not all, are mixed races. Most of us have gay (+) friends. Most of us have our preferred religion, or lack thereof. Most people do not want to go back in time and see only with narrow blinders forced on us by our political daddys.
Let’s see how far these companies allow this, as meddling in business, and people’s bedrooms, was not very long ago, major sins to the Republican Party. Now, all they have is to throw fuel on the culture war fire. Meanwhile, get out your checkbooks, it’s time to pay up. They think you are totally distracted.