Florida public or state-controlled funds can no longer invest their money based on environmental, social and governance factors under a bill signed by Gov. Ron DeSantis (R) Tuesday.
The law (H.B. 3) broadly directs all Florida pension funds to prioritize returns without considering ESG factors in investment decisions.
Florida’s legislation follows similar actions in Indiana and Kansas that prohibit state retirement accounts from investing in ESG-related funds.
Both states changed their bills during the legislative process after concerns rose that provisions in the original bills would lead to losses for public retirement systems.
The law also prohibits Florida ...
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