DeSantis to unveil alliance with 18 states to combat Biden’s ‘woke’ ESG agenda

Gov. Ron DeSantis (R-FL), will announce an alliance Thursday with 18 states. The group wants to “push against.” Biden is President Agenda for environmental, social and corporate governance (ESG).

Each state is expected to agree to initiate “state-level efforts to protect individuals from the ESG movement” Consideration of taking out state pension funds from investments made by companies who follow the guidelines. Governance, governance, and environmental issues According to a press release, model was revealed by the Washington Examiner.

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“At my direction, Florida has led the way in combating the pernicious effects of the ESG regime by directing our state pension fund managers to reject ESG and instead focus on obtaining the highest return on investment for Florida’s taxpayers and retirees,” DeSantis stated in the previewed release.

According to DeSantis’s office, the anti-ESG alliance will include Alabama and Alaska, Arkansas, Georgia. Idaho, Mississippi, Missouri. Montana, Nebraska. New Hampshire. North Dakota. Oklahoma. South Dakota. Tennessee. Vermont. West Virginia. Wyoming.

“Proliferation of ESG throughout America is a direct threat to the American economy, individual economic freedom, and our way of life, putting investment decisions in the hands of the woke mob to bypass the ballot box and inject political ideology into investment decisions, corporate governance, and the everyday economy,” A draft of the letter that is expected to be signed in advance by the states.

ESG policies require firms to push companies to promote environmental sustainability and greater diversity. ESG has been criticized by a multitude of conservatives, who see it as a distraction from business efforts.

Recent legislation, which was backed by Republicans to repeal a Labor Department rule that allowed retirement plans to consider ESG factors when making investment decisions, cleared both chambers. It is expected that the president will veto this measure. Sens. Sens. Joe Manchin (D–WV) and Jon Tester, (D–MT) supported the move.

“I said we would spearhead an initiative to join with other like-minded states to send an even louder message to the financial industry that the American people have rejected ESG at the ballot box,” DeSantis added. “We will not stand idly by as the stability of our country’s economy is threatened by woke executives who put their political agenda ahead of their clients’ finances.”

DeSantis presented a February proposal to protect Floridians against ESG. He proposed that institutions be restricted from “discriminating against customers for their religious, political, or social beliefs,” Other measures may also be taken.

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Biden’s administration has insisted that investors and retirees should have the right to make their own decisions. Republicans are being criticized for trying to repeal the Labor Department’s ESG rule.

“It forces MAGA Republicans’ ideology down the throats of the private sector and handcuffing investors as well. The bill would bar fiduciaries from considering significant risks like extreme climate threats and poor corporate governance when they make investment decisions,” Karine Jean-Pierre, press secretary, spoke to reporters earlier in the month.