On Tuesday, Florida Governor Ron DeSantis has blocked the state’s retirement system from partaking in so-called environmental, social and corporate governance (ESG) methodologies.
DeSantis’ office released a statement saying, “invest state funds in a manner that prioritizes the highest return on investment for Florida’s taxpayers and retirees without considering the ideological agenda.”
The statement went on to say, “Corporations across America continue to inject an ideological agenda through our economy rather than through the ballot box. Today’s actions reinforce that ESG considerations will not be tolerated here in Florida, and I look forward to extending these protections during this legislative session.”
The move now keeps Florida’s investments from being based on factors other than profit and loss performance. It also bans investments from “consideration of furtherance of social, political, or ideological interests.”
DeSantis has also prohibited the state from investing with or in organizations that practice “discriminating against consumers for their religious, political, or social beliefs.