{"id":1580942,"date":"2022-07-31T07:33:42","date_gmt":"2022-07-31T11:33:42","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1580942"},"modified":"2022-07-31T07:34:14","modified_gmt":"2022-07-31T11:34:14","slug":"desantis-to-take-action-against-esg","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-to-take-action-against-esg\/","title":{"rendered":"DeSantis to Take Action Against ESG"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fdesantis-to-take-action-against-esg%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1580942&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>PUNTA GORDA, Fla.\u2013Gov. Ron DeSantis on July 27 said he plans to take action against the environmental, social, and corporate governance (<a href=\"https:\/\/www.theepochtimes.com\/t-esg\">ESG<\/a>) movement, calling it a threat to the American economy.<\/p>\n<p>\u201cThe leveraging of corporate power to impose an ideological agenda on society represents an alarming trend,\u201d DeSantis said in a statement. \u201cFrom Wall Street banks to massive asset managers and big tech companies, we have seen the corporate elite use their economic power to impose policies on the country that they could not achieve at the ballot box.\u201d<\/p>\n<p>Most Americans are not aware of what ESG is and what its goal is and \u201cleveraging corporate power to impose an ideological agenda on society\u201d is an \u201calarming trend,\u201d DeSantis said.<\/p>\n<p>Morgan Stanley Capital International (MSCI), an investment research firm in New York, described ESG as \u201cinvesting as the consideration of environmental, social and governance factors alongside financial factors in the investment decision-making process.\u201d<\/p>\n<p>But some view the movement as a sinister force. James Lindsay, the author of \u201cRace Marxism,\u201d described ESG as a \u201cweapon in the hands of \u2018social justice warriors\u2019 to shake down corporations and a tool in the hands of those seeking to impose \u2018one world government.&#8217;\u201d<\/p>\n<figure id=\"attachment_4295079\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2022\/02\/22\/shutterstock_2011241297-1200x798.jpg\"><figcaption class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-4295079\" src=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2022\/02\/22\/shutterstock_2011241297-600x399.jpg\" alt=\"Epoch Times Photo\" width=\"600\" height=\"399\" \/><\/noscript><\/figcaption><\/a> (Shutterstock)<\/figure>\n<p>Florida House Speaker Designate Paul Renner said at Wednesday\u2019s press conference that ESG is \u201ca global elite weaponizing American capitalism against us,\u201d making it a national security issue as well as a \u201cpocketbook issue.\u201d<\/p>\n<p>He warned that going down this path would lead to companies being \u201cchoked off\u201d of their ability to get financing and would do the same in agriculture.<\/p>\n<p>\u201cSo, if you\u2019re a meat eater, get ready,\u201d he warned. \u201cThey\u2019re against meat and so they\u2019re driving up food prices \u2013 these people don\u2019t care \u2013 (they) will open our borders, choke off our agriculture sector and basically weaken this country for their own local agenda.\u201d<\/p>\n<p>Justin Danhof, head of corporate governance at Strive Asset Management, told the Tampa crowd that America after declaring freedom 250 years ago is battling a new monarchy, \u201cit\u2019s actually a behemoth ideological cartel.\u201d<\/p>\n<p>Danhof explained that America has three large asset managers, BlackRock, State Street, and Vanguard that manage more than $20 trillion in assets.<\/p>\n<p>\u201cThey use their shareholder vote and their financial influence to politicize business on issues ranging from climate to social justice, these big three are transforming the fabric of American society in ways that a majority of Americans disagree with,\u201d he said. \u201cDeSantis is saying to the big three, \u2018you aren\u2019t going to politicize corporations with pension money.&#8217;\u201d<\/p>\n<p>DeSantis\u2019s proposed legislation will amend Florida\u2019s Deceptive and Unfair Trade Practices statute to stop discriminatory practices by large financial institutions based on ESG social credit score metric.<\/p>\n<p>In addition to the legislation, DeSantis will propose an update to the fiduciary duties of the State Board of Administration Investment fund managers and investment advisors to define factors that fiduciaries are to consider when making investment decisions. ESG criteria, environmental, social or corporate governance factors will not be included, the governor\u2019s office said in a written statement.<\/p>\n<p>The governor said he hoped that Florida will lead the way in getting \u201clike-minded\u201d states to create a retirement system voting bloc.<\/p>\n<p>\u201cA lot of these states could come together, and we\u2019d have a lot of money, a lot of voting power. We could be a real check against a lot of the excesses that we\u2019ve seen and probably have enough resources to beat back a lot of stuff,\u201d he said.<\/p>\n<p><em>Cindy Drukier\u00a0and\u00a0Tom Ozimek contributed to this report.<\/em><\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-jannis-falkenstern\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/06\/WEB_JannisFalkenstern.jpg\" alt=\"Jannis Falkenstern\" \/><\/a><\/p>\n<p>Follow<\/p>\n<\/div>\n<p>Jannis Falkenstern is an Epoch Times reporter who covers the state of Florida.<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>PUNTA GORDA, Fla.\u2013Gov. Ron DeSantis on July 27 said he plans to take action against the environmental, social, and corporate governance (ESG) movement, calling it a threat to the American<\/p>\n","protected":false},"author":1,"featured_media":1894414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1580942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1580942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1580942"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1580942\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1894414"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1580942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1580942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1580942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}