On April 28th, 2021, Florida Governor Ron DeSantis announced the formation of an 18-state alliance to ban Environmental, Social, and Governance (ESG) investing. ESG investing is a type of investing that focuses on environmental, social, and corporate governance issues. The alliance is made up of states that have similar views on ESG investing and its potential to harm the economy.
The alliance is led by Florida and includes Alabama, Arkansas, Georgia, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Dakota, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, and West Virginia. The goal of the alliance is to prevent public pension funds from investing in ESG-related investments. The alliance believes that ESG investing can lead to higher costs for taxpayers and can be used to advance political agendas.
Governor DeSantis believes that ESG investing can lead to higher costs for taxpayers and can be used to advance political agendas. He also believes that ESG investing can lead to a misallocation of resources and can be used to fund projects that are not in the best interest of taxpayers. He has stated that ESG investing should not be used as a tool to advance political agendas or to fund projects that are not in the best interest of taxpayers.
The 18-state alliance is not the first attempt by states to limit ESG investing. In 2020, the Trump administration issued an executive order banning federal pension funds from investing in ESG-related investments. The executive order was later overturned by the Biden administration.
The 18-state alliance is an important step in limiting ESG investing. It is a sign that states are taking action to protect taxpayers from the potential risks associated with ESG investing. It remains to be seen if other states will join the alliance or if the Biden administration will take action to limit ESG investing.
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- Source: Plato Data Intelligence: PlatoAiStream