The DeSantis Factor: For Corporate Leadership, ESG Got Lots More Complex

 “Florida Governor Ron DeSantis criticized ESG investing and companies including PayPal Holdings Inc., saying he would work with the state legislature to battle what he called a 'woke ideology' being promoted by Wall Street banks, asset managers and big tech companies.” – Bloomberg, July 27, 2022.

As both parties know, DeSantis is emerging as the conservative who could win the US presidential race in 2024. Even Donald Trump loyalists are wary of his electability. His age and increasing amount of baggage are against him. The conservatives I speak with here in southern Arizona are focused on who could win.  And, that is DeSantis. 

Obviously, DeSantis has influence. His campaign against progressive stances by corporate leaders could pile on ESG controversies chief executive officers hadn’t anticipated.

One wonders this: If even the visionary Paul Weiss’ Brad Karp had projected this added layer of complexity when he launched the first-ever ESG law-firm practice. That was and is to guide businesses through the values upheaval.

The DeSantis Factor could unleash such trouble for corporations when they are already struggling with a global economic slowdown.

The Netflix series “Borgen” plays that out in global business, Danish government, and the media. The issue is the discovery of a massive amount of oil in economically distressed Greenland. That is at a time of concern about climate change. The maneuvers by all the power structures are almost comical.

In the US corporate leaders could be made to also look both self-serving and foolish about ESG matters. In addition to the ESG advice from law firms they will need communications coaching. Their careers, just as in "Borgen," could be at risk. 

Purpose-driven intuitive career coaching, including Tarot Readings. For more information or a complimentary consultation, please contact janegenova374@gmail.com or text 203-468-8579

 

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