Florida Governor Desantis announces plan to address ESG in the state

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Republic of Florida Governor Ron DeSantis has announced a plan to try to address the influence of environmental, social, and governance, or ESG, in the state.

The Florida state pension system will now be under “flat ban” against incorporation the ESG platform in its investments, DeSantis said in a interview on Fox News Wednesday night.

“He’s taking the power away from the American people and putting it in these international corporate titans,” DeSantis said on “Tucker Carlson Tonight” Wednesday. “And that’s not, I think, what our founding fathers ever wanted.”

ESG has become a very hot topic lately. Earlier this month, a new fund was announced to play against the growing ESG trend. The exchange-traded fund is expected to be called God Bless America ETF (YALL), which will act as an anti-ESG exchange-traded fund that screens stocks listed as “activists.”

According to the United States Securities Exchange Commission depositthe ETF will aim to “exclude companies that make public statements on a hot political topic then in progress unrelated to their business”.

Last week, the Securities and Exchange Commission’s director of enforcement, Gurbir Grewal replied questions about ESG.

With the rise of securities labeled as seeking to promote environmental, social and governance performance, “from an enforcement perspective, ESG issues are certainly important to investors whether greenwashing is happening,” said Grewal.

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