Florida's legislature just passed, and Ron DeSantis just signed, a law that would ban ESG and social credit systems in the state of Florida.
Watch Ron DeSantis explain:
We don't want any banking or lending practices to be imposing an ideological litmus test on your ability to get a loan, a line of credit, or even a bank account. And they will use this if they're allowed to do this.
You see what they do in China-
Ooh, that "China" sounds familiar...
Anyways, back to the topic at hand, here is how the social credit system works in China.
So if you behave a certain way or if you're involved in certain things you could get negatively impacted on just basic economic determinations. And so that's really just perverting what a market economy's all about. It makes it more difficult to do what they believe, and we just think it's fundamentally wrong.
Here's more:
DeSantis says Florida is going to be stopping a central bank digital currency, which would put all the power of money in the digital realm to be controlled by the government.
The new law prohibits state and local governments investments from sacrificing investment return to promote ESG investments...
With regards to government contracting, the law bans state and local governments from considering social, political, or ideological beliefs when evaluating potential vendors. The governor considered this "social credit scores."
During his address, DeSantis also took a shot at President Biden and the Democrats for selling out to large mega-corporations that use ESG, such as BlackRock:
