{"id":1658770,"date":"2022-09-26T15:23:03","date_gmt":"2022-09-26T19:23:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1658770"},"modified":"2022-09-26T15:23:11","modified_gmt":"2022-09-26T19:23:11","slug":"desantis-takes-on-esg-driven-investments-for-state-funds","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-takes-on-esg-driven-investments-for-state-funds\/","title":{"rendered":"DeSantis takes on ESG-driven investments for state funds"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/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-takes-on-esg-driven-investments-for-state-funds%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=1658770&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--><figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"520\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/GettyImages-56260574-800x520-1.jpg\" alt=\"SALEM, OR - NOVEMBER 14: Photovoltaic solar panels are mounted on the west wing roof of the Oregon State Capitol November 14, 2005 in Salem, Oregon. The 60 panels cover 850 square feet and produce 8.4 peak kilowatts, or enough energy to power two efficient homes. Oregon is the first state to have a solar electric power system on its capitol building, a project that underscores Oregon&#039;s support for renewable energy projects. (Photo by Melanie Conner\/Getty Images)\" class=\"wp-image-67410\" \/><figcaption>Photovoltaic solar panels are mounted on the west wing roof of the Oregon State Capitol.  (Photo by Melanie Conner\/Getty Images)<\/figcaption><\/figure>\n<p><strong>Neil W. McCabe, National Political Correspondent<br \/>UPDATED 12:20 AM PT \u2013Monday, September 26, 2022<\/strong><\/p>\n<p>(Tallahassee, Fla.) Florida Republican Gov. Ronald D. DeSantis has long been an opponent of environmental social corporate governance and now he is taking action.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>In August, he with other members of the State\u2019s Board of Administration, which includes state CFO Jimmy Patronis and state Attorney General Ashley Moody.<\/p>\n<p>The three voted to direct anyone managing funds for the state, including the pensions, to focus on shareholder value not to advance their political agenda with those assets.<\/p>\n<p>Derek Kreifels, the chief executive officer of the State Financial Officers Foundation, told One American News he and his members are fighting to free pensions and other funds from the effects of ESG.<\/p>\n<p>\u201cThere is this movement to hijack state tax dollars and pension funds from a few of the top fund managers in the world, and we\u2019re seeing them use other people\u2019s money to advance their political agenda,\u201d Kreifels said.<\/p>\n<p>\u201cThey\u2019re using this as their new branch of government,\u201d he said. \u201cThey can\u2019t get it passed through the Democratic process. They know that. They can\u2019t get it passed in the courts. They know that too.\u201d<\/p>\n<p>The SFOF CEO said ESG-driven decisions lead to companies working to destroy their own businesses.<\/p>\n<p>\u201cThey\u2019re going after corporate boardrooms and boardroom activists and shareholders, activist shareholders have been pushing for extreme shareholder proposals,\u201d he said.<\/p>\n<p>\u201cWe saw three leftist anti-oil environmental extremists elected to the Exxon Mobil board of directors\u2014that\u2019s not fiduciary responsibility,\u201d he said.<\/p>\n<p>DeSantis is going after so-called ESG social credit scores.<\/p>\n<p>These scores are similar to the ones developed by the Chinese Communist Party, which give everyone in the country there a rating as to how loyal they are to the CCP.<\/p>\n<p>In the US the left is doing the same with companies and states, rating their loyalty to the left-wing agenda.<\/p>\n<p>One way the ESG credit scores work would be the example of a state with the highest credit rating in the world, AAA. If the state doesn\u2019t have electric car charges, solar panels or wind turbines that reflects negatively on their ESG score.<\/p>\n<p>If bankers are bidding for the state\u2019s bonds, they have a second score to look at, which hurts the price of those bonds.<\/p>\n<p>DeSantis pledged to amend the state\u2019s unfair practices law to ban those scores in the Sunshine State.<\/p>\n<p>Florida alone holds more than $200 billion in state and local pension funds. So Wall Street should pay attention.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Photovoltaic solar panels are mounted on the west wing roof of the Oregon State Capitol. (Photo by Melanie Conner\/Getty Images) Neil W. McCabe, National Political CorrespondentUPDATED 12:20 AM PT \u2013Monday,<\/p>\n","protected":false},"author":1298,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1658770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1658770","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\/1298"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1658770"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1658770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1658770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1658770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1658770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}