The Florida House of Representatives passed House Bill 3 (HB 3) on March 24, prohibiting the consideration of environmental, social, and corporate governance (ESG) factors in public fund investments.
The legislation requires fiduciaries to invest with the sole goal of maximizing returns based on financial factors. The state House voted 80-31 in favor of the bill, which now moves to the state Senate.
The Kansas House of Representatives passed a similar measure, House Bill 2436 (HB 2436), on March 23. It requires fiduciaries of the public employees’ retirement system to act solely in the financial interest of participants and beneficiaries. HB 2436 passed 85-38 and also proceeds to the state Senate.
