State Legislative Developments: Florida Goes One Way – Arizona, Indiana, North Dakota and Wyoming Go The Other

February 28, 2023

On February 13, 2023, Florida Governor Ron DeSantis (R) announced his support for what his office described as “comprehensive legislation to protect Floridians from the woke environmental, social, and corporate governance (ESG) movement that continues to proliferate throughout the financial sector.” Among other things, the bill (HB 3) would prohibit (1) fund managers working with state and local governments from considering ESG factors when making investment decisions; (2) state and local governments from using ESG factors when issuing bonds; and (3) “all state and local entities, including direct support organizations, from considering, giving preference to, or requesting information about ESG as part of the procurement and contracting process.”

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