Chalk up another W in the DeSantis victory column!
America's Governor, Ron DeSantis has just made a major move, introducing legislation in Florida that would prevent banks from using ESG social credit scores.
From The Post Millennial:
On Monday, Florida Governor Ron DeSantis announced legislation that would protect Floridians from banks from using Environmental, Social, and Governance (ESG) social credit scores in how they lend.
DeSantis said ESG has become a "mechanism to inject political ideology into investment decisions, corporate governance, and really just the everyday economy," Florida's Voice reports.
"That is not ultimately something that is going to work out well for us here in Florida," DeSantis added.
The ban would prevent large banks and financial institutions from discriminating against individuals based on their political, religious, and social values.
If you're unfamiliar with ESG, Glenn Beck gives an excellent and succinct rundown of the dangers of this social credit system:
Elon Musk has an even shorter description of ESG:
Corporations and investment firms like VanGuard and BlackRock use woke capitalism to control companies and individuals, scoring you based on Environmental (climate policy and green energy), Social (social justice issues involving race and sexuality), and Governance (how Marxist your HR department is).
But it's not going to fly in Florida.
DeSantis said, "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."
ESG focuses investment not on the fiduciary responsibility to shareholders but around issues of green energy and "social justice initiatives."
"What ESG says is no, we're not going to do, even if it would do a better return – we're not going to allow you to invest in certain areas, you're not allowed to invest in oil and gas, you're not allowed to invest in disfavored areas," DeSantis said.
ESG investing is focused on "stakeholders" instead of shareholders. Meaning your money would be spent on woke goals for the betterment of humanity (socialism) and not on whatever makes you the most money.
DeSantis and the Republican-led Florida legislature are totally on board with the plan.
Florida Senate President Kathleen Passidomo and House Speaker Paul Renner joined DeSantis in Monday's announcement.
According to the press release, the legislation would prohibit "the financial sector from considering so called 'Social Credit Scores' in banking and lending practices that aim to prevent Floridians from obtaining loans, lines of credit, and bank accounts" and prohibit "big banks, trusts, and other financial institutions from discriminating against customers for their religious, political, or social beliefs — including their support for securing the border, owning a firearm, and increasing our energy independence."
The proposal builds on actions by DeSantis to prohibit ESG considerations in state investments.
Battling ESG is also battling China, as Governor DeSantis explains:
