DeSantis Bans ESG Investments in Florida

Florida Governor Ron DeSantis signed a bill into law that prohibits the managers of state or publicly controlled funds from considering environmental, social justice, and governance factors when making investment decisions. The law requires prioritizing financial risk and return over political considerations and prohibits the sale of ESG bonds. The law also prevents banks, other financial institutions, and government contractors from discriminating against individuals and organizations on account of their political views. The move follows Biden’s veto of a congressional effort to disapprove of the practice at the federal level.