Ron DeSantis leads 19 US states to counter Biden's ESG agenda and protect retirees and taxpayers

Florida Governor Ron DeSantis, along with 18 other states, announced a new initiative on Thursday to challenge President Joe Biden's environmental, social, and corporate governance (ESG) agenda, which they argue is destabilizing the American economy and global financial system.

In addition to Florida, the states joining the initiative include Alabama, Alaska, Arkansas, Georgia, Idaho, Iowa, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Dakota, Oklahoma, South Dakota, Tennessee, Utah, West Virginia, and Wyoming.

The joint statement from the states highlighted the importance of utilizing state pension funds to encourage corporations to prioritize shareholder value over the propagation of "woke ideology."

The governors asserted that Biden's actions put the pensions of thousands of Americans at risk, prioritizing the ESG movement rather than focusing on investment decisions that yield the highest rate of return.

The statement also condemned the ESG movement for threatening the American economy, individual economic freedom, and the country's way of life, allowing the "woke mob" to bypass the ballot box and influence investment decisions, corporate governance, and the everyday economy.

The states agreed to work together on two key efforts:

1. Protecting taxpayers from ESG influences across state systems: This may involve blocking the use of ESG in all investment decisions at the state and local level, ensuring that only financial factors are considered to maximize the return on investment for retirees and taxpayers. It may also include eliminating consideration of ESG factors by state and local governments when issuing bonds or prohibiting state fund managers from considering ESG factors when investing taxpayer money.

2. Protecting citizens from ESG influences in the financial sector: This may involve banning the financial sector from considering so-called "Social Credit Scores" in banking and lending practices aimed at preventing citizens from obtaining financial services like loans, lines of credit, and bank accounts. Additionally, it may include stopping financial institutions from discriminating against customers based on their religious, political, or social beliefs.

Governor DeSantis stated that he directed state pension fund managers to reject the ESG regime and focus on obtaining the highest return on investment for Florida's taxpayers and retirees.

He added that Florida has emerged as America's economic engine, and they will not stand by while the stability of the country's economy is threatened by "woke executives" prioritizing their political agenda over their clients' finances.