CFO Patronis: HB 3 Will Protect Florida Investments from Woke ESG Standards

TALLAHASSEE, Fla. - Today, Chief Financial Officer (CFO) Jimmy Patronis issued a statement following the passage of House Bill 3 by Senator Erin Grall and Representative Bob Rommel in the Florida Senate. The legislation will now move on to the Governor for signature. House Bill 3 prohibits financial institutions from discriminating against consumers for their beliefs, barring the consideration of "ESG Credit Scores;” and permanently prohibiting SBA fund managers from considering ESG factors when investing the state's money.

CFO Jimmy Patronis said, “Big thanks to Senator Grall and Representative Rommel on passing this great piece of legislation and for their commitment to protecting Florida’s economy from woke ESG standards. Many businesses across the country have been forced by asset managers and bankers to adopt ESG; turning their focus from making sound fiscal decisions to pushing politically fueled ideology. Floridians deserve a banking system that continues to work for them and should feel confident knowing that their investments are protected. Once signed by the Governor, HB 3 will not only provide those protections from ESG standards, but increase confidence in Florida’s marketplace.” 

Senator Erin Grall said, “I was proud to guide HB 3 across the finish line in the Florida Senate and keep Florida businesses free from ESG Standards. This legislation will protect the capitalist spirit in the state of Florida and maintain our fiscal standing as the best place in the country to establish and grow a business. Thank you to CFO Patronis for your support and advocacy on behalf of this great legislation.”

Representative Bob Rommel said, “Today is a great day for Florida businesses and consumers as HB 3 has passed through the Florida Senate and is now on its way to be considered by the Governor. Thank you to CFO Patronis for all of your support in helping to usher this piece of legislation through the process and ensure that our business can focus on the bottom line and not on woke ideology.”

To view CFO Patronis’ 2023 “Keep Florida Free” Legislative Priorities, click HERE.

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About CFO Jimmy Patronis  
Chief Financial Officer and State Fire Marshal Jimmy Patronis is a statewide elected official and a member of Florida’s Cabinet who oversees the Department of Financial Services. CFO Patronis works each day to fight insurance fraud, support Florida’s firefighters, and ensure the state’s finances are stable to support economic growth in the state. Follow the activities of the Department on Facebook (FLDFS) and Twitter (@FLDFS).