Fair-weather DeSantis’ climate change rejection is ‘politicization’ at its finest
DeSantis jihad against environmental, social and governance (ESG) practices is indeed not about the weather. Its about politics at the highest level Republican presidential candidate Ron DeSantis wasted no time cementing his role as climate-denier-in-chief last week when on the first day of his campaign he boldly stated that he rejected the politicalization of weather . Stoking the culture wars that are certain to form the bedrock of his campaign, DeSantis fell back on the familiar deniers claim that climate change is normal and that environmental actions are nothing more than a sinister, woke, political effort to slash American freedoms. As governor of Florida , one of the US states most affected by rising seas, fiercer storms and unprecedented heat caused by global warming, DeSantis jihad against environmental, social and governance (ESG) practices is indeed not about the weather. Its about politics at the highest level. Flying in the face of common sense and basic fiduciary investment strategy, DeSantis is the leader of a group of politicians in 18 Republican-led states who are enacting laws and regulations that prevent their pension funds or any other financial organization from using ESG to protect against climate risk. The rules are costing the pensions and the retirees who hold them precious returns by reducing the number of Wall Street fund managers who can bid on them. There are three ironies that expose DeSantis strategy as a political roll of the dice, rather than a fundamental economic plan. One is the very Wall Street firms that the red states are targeting for being woke are part of the traditional Republican fundraising base, which is driving a wedge between moderate Republicans and extreme ones even deeper. A second is that many of these red states, such as Florida and Texas, are among the top beneficiaries of the renewable energy boom that they are railing against to protect their fossil-fuel interests. Texas, in particular, is No 1 in the US in developing wind energy, and a fast-closing second on California in solar. A third reason is that DeSantis record as governor of Florida, until he started the anti-ESG wars in 2021, is actually quite environmentally friendly. He signed into law the Florida Resiliency Program, which targets $640m in funds for raising sea walls and roads, and protecting wastewater treatment plants from climate change. And he has awarded more than $200m to projects to provide cleaner water to Floridians. On a national level, however, he has shown much less interest. As a Florida congressman for six years before becoming governor, his record on positive environmental votes was a mere 2 percent, according to the League of Conservation Voters. As an election issue, climate change and the transition to renewable energy from oil and gas wont be the red meat that feeds core voters on either side, such as abortion, law enforcement, immigration, or transgender rights. But by pointing the woke finger at anyone trying to either regulate environmental destruction or at least invest and plan for coming climate risk, DeSantis has succeeded where other, more liberal politicians have failed in at least putting global warming on the agenda. His fair-weather shifts with the political winds and polls aside, DeSantis can only hope his home state can make it through the campaign without a devastating disaster to call attention to just how reckless his position has become or could become on a national level. David Callaway is the founder of Callaway Climate Insights and a former editor-in-chief of USA Today Join thought-provoking conversations, follow other Independent readers and see their replies Florida Gov. Ron DeSantis speaks at a political roundtable, Friday, May 19, 2023, in Bedford, N.H. (AP Photo/Robert F. Bukaty) Copyright 2023 The Associated Press. All rights reserved. Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today. Log in New to The Independent? Or if you would prefer: Want an ad-free experience? Hi {{indy.fullName}}