So by this action he could cause what funds are invested to produce diminishing returns. And perhaps those funds are part of the state retirement system for example. The funds thus under perform and could possibly affect future retirement plans for state employees. The state fund managers job should be to maximize returns...not virtue signal which is what this is.
Just another example of a not well thought out response...but it does garner headlines and convinces people he’s “doing something”.
This action by DeSantis, which is now being followed by several other states, has a very real likelihood of driving a stake in the heart of the whole ESG rollout the leftists were planning.
I recently saw a news report on CNBC where they were discussing this in horror, and how it was forcing Blackrock and others to possibly have to throw in the towel on the whole initiiative.
DeSantis wasn’t mentioned by name in that report, just that a lot of states were banding together and it would be impossible for these businesses that operate nationwide to only partially implement the policy in a state by state manner.