Bessie Daschbach Discusses Scope of H.B. 3, Florida's Anti-ESG Law

Hinshaw partner Bessie Daschbach discussed in a Law360 byline Florida's new anti-ESG law titled "An Act Relating to Government and Corporate Activism." Clocking in at 51 pages long and set to go into effect July 1, the law aims to broadly restrict the use of ESG factors.

Daschbach reviews the scope and application of the new law. With the contest around the use of ESG factors set to continue, she concludes by advising all businesses to:

• assess all policies, programs, and practices either already in place, under design, or contemplated to identify any that might be characterized as ESG — or more specifically, and by way of example, "non-pecuniary" or otherwise not "quantitative, impartial, and risk-based"; and
• document the business case for those, such as attracting investment or funding, improving customer reach, securing employee talent, or increasing productivity.

Read the full article on Law360's website (subscription required)

"Scope Of Fla. Anti-ESG Law: What We Know And Don't Know?" was published by Law360 on June 27, 2023.