A Florida bill that would bar financial institutions from considering environmental, social and governance (ESG) factors in their investment decisions advanced to the floor of the state House of Representatives this week.

Among the supporters of House Bill 3, authored by Rep. Bob Rommel (R-Naples), is Florida Chief Financial Officer Jimmy Patronis, who sees the bill as needed to assure taxpayers that their funds are getting the best returns when they are invested.

“Too many asset managers and bankers have forced businesses throughout the nation to adopt ESG standards for whatever reason, and this legislation will provide Florida banks with a good reason to end whatever ESG-nonsense that’s being shoved down their throats,” Patronis said in a prepared statement.

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