Democrats were fuming after Ron DeSantis made one move to shut down this woke scheme

Ron DeSantis said Florida is where wokeness goes to die.

The Florida Governor and conservatives are standing up to the Left’s onslaught.

And Democrats were fuming after Ron DeSantis made one move to shut down this woke scheme.

Democrats are using the financial system as a backdoor way to implement their radical political agenda with Environmental, Social, and Corporate governance (ESG) investing.

ESG prioritizes investment decisions based on left-wing politics instead of securing the best possible return for their investors. 

So-called “socially responsible investments” such as green energy are prioritized while companies that are politically disfavored by Democrats like fossil fuels are shut out.

Wall Street titan BlackRock, the world’s largest asset manager, is at the forefront of the ESG movement that’s spreading like wildfire.

BlackRock claims that climate change is a major problem and wants companies to move to zero carbon emissions by 2050.

The company is flexing its financial muscles to strong arm publicly traded companies to join in its ESG agenda. 

Now Republican-led states including Florida, Louisiana, West Virginia, Utah, South Carolina, Missouri, and Arkansas are fighting back at this scheme to quietly force radical environmentalism on the country.

In 2022, Republican states pulled nearly $4.5 billion in state investments, mostly in public pension funds, out of BlackRock because of the company’s support for ESG.

Republican Florida Chief Financial Officer Jimmy Patronis announced that the state would pull $2 billion worth of investments out of BlackRock because the company was using the money for its “social-engineering project” instead of maximizing returns for the state.

Florida Governor Ron DeSantis put companies using ESG on notice earlier this year when he said that the state’s pension funds would be prohibited from using political factors for their investing decisions.

He explained that woke corporations use their vast financial power to “impose policies on the country that they could not do so at the ballot box.”

GOP Missouri Treasurer Scott Fitzpatrick pulled $500 million in the state’s public pension funds out of BlackRock last October.

He explained that money was taken from BlackRock because the company is trying to force a “left-wing social and political agenda” on other companies.

Will Hild, the executive director of Consumers’ Research, told the Daily Caller News Foundation that BlackRock’s ESG stance left states paying the company to destroy their economy.

“Groups that these states had literally contracted to manage pension fund dollars responsibly used those same funds to push aggressive actions against key sectors of their economy like fossil fuels,” Hild said.

States with significant fossil fuels industries like West Virginia and Louisiana both walked away from BlackRock because of ESG investments that targeted their economies.

Although BlackRock has $10 trillion in assets under its control, fighting back against ESG is beginning to hurt the company’s bottom line.

“These divestments are hurting their growth and are increasing exponentially, which shows that BlackRock is going in the wrong direction financially,” Hild explained.

Republican states are beginning to put their money where their mouth is and stand up to the ESG movement. 

Stay tuned to Right News Wire for any updates to this ongoing story.

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