Economy

Florida latest state to ban ESG investing

At least eight others enacted similar laws to push back against the consideration of environmental, social and governance factors.

Humberto Sanchez

12:00 PM, May 02, 2023

FILE – Florida Gov. Ron DeSantis speaks to a crowd at Adventure Outdoors gun store, Thursday, March 30, 2023, in Smyrna, Ga. DeSantis, who is widely expected to announce a campaign and is seen as former President Donald Trump’s top rival, accused prosecutors of stretching the law to target an opponent. But his remarks came a week after DeSantis took a shot at the tawdry circumstances underlying the case when asked to comment on it. (AP Photo/John Bazemore, File)

Gov. Ron DeSantis (R) signed legislation Tuesday that makes Florida the latest state to push back against the consideration of environmental, social and governance factors in investment decisions.

The new law requires state pension managers to seek the best return on investments for beneficiaries. It also codifies a resolution approved last year directing Florida’s fund managers to invest state funds to seek the highest return and without considering ESG factors, and extending the requirement to local governments.

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