![]() STATEMENT HERE: /0LbrrSdaa3Īs Breitbart News has noted in the past, ESG policies are a form of leftist activism in financial investing that has become the latest vector to influence the way Wall Street financial firms and corporations continue to take social and political positions that do not relate to their business, such as stances associated with climate change, as well as the Diversity, Equity, and Inclusion (DEI) agenda. Wall Street firms, such as BlackRock and others, sell ESG as a way to invest according to specific criteria that the political left pushes on voters and consumers.įlorida has been one of the Republican-dominated state governments that have taken a strong aim at “woke” asset managers and the leftist ESG policy movement in the financial sector. We’ve been boiled like a frog for too long, and it’s time to hop out of the pot. Today I directed that asset managers involved with the Deferred Compensation program may not direct participants’ cash into funds associated with ESG. “ESG has gone unchecked throughout the financial services sector for too many years, fiduciaries who believe ESG is bad for returns need to take steps in redirecting dollars away from these funds and into ones that are more focused on the bottom line,” Patronis continued. “Florida has taken a hard stand that ESG is undemocratic, it constrains companies’ ability to pursue the best returns possible, and many of its values run counter to the values of everyday Floridians,” Patronis said in a statement. “We’ve been boiled like a frog for too long, and it’s time to hop out of the pot.” He noted they could be labeled “ESG Funds” in addition to using others alternatives terms such as “sustainability,” “equity,” and “social responsibility.” ![]() Patronis signed a directive that bars the Florida Deferred Compensation plan, which offers supplemental pension coverage for more than 93,000 state employees, from investing in financial products with ESG standards. Florida Chief Financial Officer (CFO) Jimmy Patronis on Monday blocked asset managers from investing $5.1 billion of state pension pool from being invested in financial products associated with Environmental, Societal and Governance (ESG) standards in the latest push against the policy movement.
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