The Biden administration has not been shy about their commitment to the environment they think requires their saving. That being said, they’ve gone a bit too far with imposing their agenda into our American economy-intern harming American investors. People like DeSantis see its damage and doing something about it.
Governor Ron DeSantis of Florida continues to stand for many conservatives across the nation by announcing his alliance between himself and more than a dozen other states in order to push back against President Joe Biden’s recently implemented environmental, social, and corporate governance investing (ESG).
Town Hall reports, in a press release, the 19 states argue that Biden’s woke ESG agenda threatens America’s economic freedom by destabilizing the American economy and global financial system.
In a joint statement, the states expressed their views, “the proliferation of ESG throughout America is a direct threat to the American economy, individual economic freedom, and our way of life, putting investment decisions in the hands of the woke mob to bypass the ballot box and inject political ideology into investment decisions, corporate governance, and the everyday economy.”
According to the states, Biden’s racial ideology puts the pensions of thousands of hardworking Americans at risk instead of prioritizing high-return investments. The press release states they want to ensure corporations maximize shareholder value by changing how asset managers invest Americans’ money.
Now presidential candidate Vivek Ramaswamy, earlier last year, obliterated the use ofESG in an appearance on CNBC.
The statement went on claiming, “Retirees, already suffering from the reckless fiscal policies of the Biden Administration, will continue to experience diminished returns on the investment of their hard-earned money while the corporate elite continues to use their economic power to impose policies on the country that they could not achieve at the ballot box.”
Republicans have proposed legislation that would nullify the Biden Administration’s existing ESG rule, allowing retirement fund managers to consider ESG factors. The president, however, is expected to veto the bill.
In the statement, the states outlined two ways they would fight back. A primary goal is to protect taxpayers from the impacts of ESG on all state systems, and a secondary goal is to protect citizens from the impacts of ESG on the financial sector.
After such a stellar take down by Vivek Ramaswamy, we can conclude just how corrupt the concept of ESG is in our free market society. If certain investors want to donate their personal money with that method, they have all the freedom to do so, however imposing such a system on the American economy will not be well received here. We like our money to speak for itself here.
Let’s continue this conversation, in the comments below.