{"id":1846703,"date":"2023-02-14T12:20:18","date_gmt":"2023-02-14T17:20:18","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1846703"},"modified":"2023-02-14T12:22:30","modified_gmt":"2023-02-14T17:22:30","slug":"gov-desantis-moves-to-stop-banks-from-implementing-social-credit-systems","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gov-desantis-moves-to-stop-banks-from-implementing-social-credit-systems\/","title":{"rendered":"Gov. DeSantis Moves to Stop Banks From Implementing \u201cSocial Credit Systems\u201d"},"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\">22<\/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%2Fgov-desantis-moves-to-stop-banks-from-implementing-social-credit-systems%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=1846703&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-->\n<div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/original_desantis_waving_1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\"   style=\"display:none\"><\/div>\n<p>On Monday, Florida Governor <a href=\"https:\/\/thepostmillennial.com\/desantis-launches-playbook-highlighting-his-freedom-agenda-as-part-of-re-election-campaign\">Ron DeSantis<\/a> An act was announced that would prevent banks from using Environmental, Social, and Governance credit scores (ESG) in the way they lend to Floridians.<\/p>\n<p>DeSantis claimed that ESG has become an important part of the business. &#8220;mechanism to inject political ideology into investment decisions, corporate governance, and really just the everyday economy,&#8221;\u00a0<a href=\"https:\/\/flvoicenews.com\/desantis-proposes-banning-social-credit-scores-in-banking-targets-esg\/\">Florida&#8217;s Voice reports<\/a>.<\/p>\n<p>&#8220;That is not ultimately something that is going to work out well for us here in Florida,&#8221; DeSantis added.<\/p>\n<p>The ban would prevent large banks and financial institutions from discriminating against individuals based on their political, religious, and social values.<\/p>\n<p>DeSantis said, &#8220;Your pension money, your retirement money, is likely invested in some of these funds, and those funds should be done to try to produce the best result for you using the available investment options.&#8221;<\/p>\n<p>ESG focuses investment not on the fiduciary responsibility to shareholders but around issues of green energy and &#8220;social justice initiatives.&#8221;<\/p>\n<p>&#8220;What ESG says is no, we\u2019re not going to do, even if it would do a better return \u2013 we\u2019re not going to allow you to invest in certain areas, you\u2019re not allowed to invest in oil and gas, you\u2019re not allowed to invest in disfavored areas,\u201d DeSantis said<\/p>\n<p>In April, Elon Musk said ESG was the &#8220;<a href=\"https:\/\/thepostmillennial.com\/elon-musk-slams-corporatist-moralism-of-esg-pushed-by-world-economic-forum\">devil incarnate<\/a>.&#8221;<\/p>\n<p>According to <a href=\"https:\/\/www.investopedia.com\/terms\/e\/environmental-social-and-governance-esg-criteria.asp\">Investopedia<\/a>, ESG criteria &#8220;are a set of standards for a company&#8217;s operations that socially conscious investors use to screen potential investments.&#8221; Environmental criteria include a company&#8217;s pollution created, treatment of animals and nature, and energy waste. The social criteria in ESG includes looking at whether a company supports LGBTQ rights and encourages diversity. Governance criteria include embracing corporate transparency and creating a diverse board.\u00a0<\/p>\n<p>&#8220;That is a way to try to change people\u2019s behavior. It\u2019s a way to try to impose politics on what should just be economic decisions,&#8221; DeSantis said.<\/p>\n<p>Florida Senate President Kathleen Passidomo and House Speaker Paul Renner joined DeSantis in Monday&#8217;s announcement.<\/p>\n<p><a href=\"https:\/\/www.flgov.com\/2023\/02\/13\/governor-ron-desantis-announces-legislation-to-protect-floridians-from-the-woke-esg-financial-scam\/\">According to the press release<\/a>, the legislation would prohibit &#8220;the financial sector from considering so called &#8216;Social Credit Scores&#8217; in banking and lending practices that aim to prevent Floridians from obtaining loans, lines of credit, and bank accounts&#8221; and prohibit &#8220;big banks, trusts, and other financial institutions from discriminating against customers for their religious, political, or social beliefs \u2014 including their support for securing the border, owning a firearm, and increasing our energy independence.&#8221;<\/p>\n<p>The proposal builds on actions by DeSantis to <a href=\"https:\/\/www.flgov.com\/2023\/01\/17\/governor-ron-desantis-further-prohibits-woke-esg-considerations-from-state-investments\/\">prohibit ESG considerations in state investments.<\/a><\/p>\n<p><em>This is a breaking story and will be updated.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Monday, Florida Governor Ron DeSantis An act was announced that would prevent banks from using Environmental, Social, and Governance credit scores (ESG) in the way they lend to Floridians. DeSantis claimed that ESG has become an important part of the business. &#8220;mechanism to inject political ideology into investment decisions, corporate governance, and really just &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1806828,"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":[547],"tags":[8961,6178,4980,8338,18618,5368,5127,9674],"class_list":["post-1846703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-banks","tag-credit","tag-desantis","tag-gov","tag-implementing","tag-moves","tag-social","tag-systems"],"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\/1846703","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=1846703"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1846703\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1806828"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1846703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1846703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1846703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}