News & Analysis as of

Florida Environmental Social & Governance (ESG)

Bradley Arant Boult Cummings LLP

Florida’s Fair Access to Banking Expansion Takes Effect July 1: Are You Ready?

On July 1, 2024, banks and other financial institutions doing business in Florida will be required to comply with new rules designed to ensure fair access to banking and prevent politically or ideologically motivated denial...more

Mintz

Florida Adopts Laws Erecting Roadblocks to the Climate Transition

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This week, Governor DeSantis of Florida signed into law certain legislation that expressly seeks to minimize ongoing efforts to combat climate change, and indeed erects various roadblocks to actions designed to promote...more

Mintz - Securities Litigation Viewpoints

Lessons from Disney: The Exercise of the Corporate Voice is Protected Business Decision

In the ever-changing and divisive political climate facing our nation today, boards of directors and the companies they oversee face myriad pressures from numerous stakeholders to weigh in on specific political, cultural, and...more

Dechert LLP

Delaware Court of Chancery Bars Stockholder from Inspecting Books and Records Related to Board’s ESG-Related Decision

Dechert LLP on

Proof that an inspection demand is improperly “lawyer-driven” will overcome a stockholder’s pretextual claim for investigating wrongdoing. A stockholder does not have a proper purpose for investigating an “ordinary...more

Wilson Sonsini Goodrich & Rosati

Delaware Court of Chancery Issues Decision on Disney Board’s Obligations in the DeSantis Dispute

On June 27, 2023, Vice Chancellor Lori Will of the Delaware Court of Chancery issued a much-anticipated decision addressing the obligations of the board of directors of The Walt Disney Company (Disney) in overseeing Disney’s...more

Proskauer - Corporate Defense and Disputes

Delaware Chancery Court Rejects Books/Records Suit Against Disney Relating to “Don’t Say Gay” Legislation

The Delaware Court of Chancery rejected a lawsuit by a Walt Disney Company stockholder to compel inspection of Disney’s books and records relating to the company’s opposition to Florida’s “don’t say gay” law – a stance that...more

Shutts & Bowen LLP

HB-3: An Overview of ESG Factors Relating to Public Funds Investment and Financial Industry Impacts

Shutts & Bowen LLP on

On May 2, 2023, Florida Governor Ron DeSantis signed into law HB 3, also known as “An Act Relating to Government and Corporate Activism (the “Act”). The Act amends Florida Statute provisions relating to (i) deposits and...more

Akin Gump Strauss Hauer & Feld LLP

Florida Enacts Anti-ESG Legislation – House Bill 3 Explained

On May 2, 2023, Gov. Ron DeSantis (R-FL) signed into law House Bill 3 (HB3), legislation that, among other things, blocks the consideration of environmental, social and governance (ESG) factors in state and local investment...more

Pillsbury Winthrop Shaw Pittman LLP

Florida’s Response to ESG Investing

Governor DeSantis has signed a law prohibiting reliance on environmental, social and governance (ESG) for Florida’s funds. Banks and financial institutions could face administrative sanctions if found to discriminate...more

Mintz

Florida's Latest Anti-ESG Efforts

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Today, Governor DeSantis (R-FL) signed into law an anti-ESG bill that, among other things, bars managers of the state's pension fund from considering ESG factors when making investments.  Instead, pecuniary factors are the...more

Proskauer - Corporate Defense and Disputes

Disney Sues Florida Officials for Allegedly Unconstitutional Retaliatory Legislation

Walt Disney Parks and Resorts U.S., Inc. (“Disney”), the owner and operator of the Walt Disney World Resort in Florida, has sued Florida’s Governor and other officials for allegedly launching “a targeted campaign of...more

Cadwalader, Wickersham & Taft LLP

State Legislative Developments: Florida Goes One Way – Arizona, Indiana, North Dakota and Wyoming Go The Other

On February 13, 2023, Florida Governor Ron DeSantis (R) announced his support for what his office described as “comprehensive legislation to protect Floridians from the woke environmental, social, and corporate governance...more

Mintz

Florida CFO Bans ESG Investing By Florida Deferred Compensation Plan

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This week, Florida CFO Patronis directed "all participating asset managers to remove ESG investment funds as options for participants in the Deferred Compensation Plan." In effect, Patronis has now barred investments in ESG...more

Foley & Lardner LLP

The Florida Legislature: A Look Ahead at the 2023 Legislative Session

Foley & Lardner LLP on

Complete with traditional pomp and circumstance, the Florida Legislature convened Tuesday for the purposes of organizational session. The 160 member body was sworn-in before friends, family, state dignitaries and staff. This...more

Proskauer - Corporate Defense and Disputes

Court Preliminarily Enjoins Florida’s “Stop Woke Act”

In a new skirmish in the volatile ESG and culture wars, a Florida federal court preliminarily enjoined enforcement of portions of Florida’s “anti-woke” law, which prohibits employers from requiring employees to attend...more

Saul Ewing LLP

Florida Becomes Latest State to Propose Anti-ESG Legislation

Saul Ewing LLP on

On July 27, 2022, Florida Governor Ron DeSantis announced legislative proposals and initiatives that would prevent State Board of Administration (SBA) fund managers from considering environmental social and governance (ESG)...more

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