DeSantis Claims Win in Campaign Against E.S.G.
Gov. Ron DeSantis of Florida advanced his campaign against environmental, social and governance investing. The State Board of Administration, on which he sits, adopted his proposal to ban the consideration of “social, political or ideological interests” when making investment decisions for the state’s pension fund.
“Corporate power has increasingly been utilized to impose an ideological agenda on the American people through the perversion of financial investment priorities under the euphemistic banners of environmental, social and corporate governance and diversity, inclusion and equity,” DeSantis, a Republican, said in a statement.
The resolution imposes broad limits on the pension fund’s investments. State administrators will be instructed to prioritize “the highest return on investment for beneficiaries, without consideration for non-pecuniary beliefs or political factors.”