Tuesday, May 2, 2023
Florida’s Governor Ron DeSantis signed into law, legislation barring state officials from using public funds to promote the non-fiduciary objectives of Environmental, Social and Governance (ESG) initiatives.
Governor DeSantis leads a 19 State alliance in the fight against ESG’s erosion of America’s economic security and energy independence.
The law, FL SB302, is expected to serve as a model in the 19 state alliance, setting fiduciary standards for state funding; contracts; pensions; and prohibiting the issuance of ‘green’ bonds. The law implements pecuniary tests established under the Trump Administration’s Department of Labor ERISA rule.
In August of 2022, under Governor DeSantis’ leadership, the Florida State Board of Administration (FSBA) launched a salvo across ESG’s bow when it divested the state’s pension investments in BlackRock.
BlackRock, a major player in the ESG mission, calls openly for factoring ‘Stakeholder Capitalism’ into financing and investing. A term akin to Diversity, Equity and Inclusion (DEI), Stakeholder Capitalism coerces businesses and governments into implementing Woke initiatives that go beyond the interest of shareholders, taxpayers and constituents.
Enter TPG
TPG is a global alternative asset manager with $135 billion in assets under management, of which Blackrock owns a minority stake. TPG has a $5 billion global investment entity called The Rise Fund. But that’s a story for another time.
Going down the rabbit hole
TPG created and funds Matrix Renewables.
Matrix Renewables is headquartered in Madrid Spain and has a corporate office in Miami, Florida.
On Matrix Renewables’ ESG Page:
“Matrix Renewables seeks to be a global leader in this space within our industry and we consider ESG matters as core to our business, rather than just a matter of compliance. We believe that following high ESG standards across all our activities and geographies is the only way to do business. Moreover, we are firmly committed to having an overall positive impact on the environment and the communities and we are determined to contribute to decarbonization and tackle climate change in a just and responsible manner.”
ESG domain’s leading news outlet, ESG News, credits Matrix Renewables with,
“[…] yet another important step [in] consolidating its strong [solar] pipeline and portfolio across Europe.”
Matrix Renewables employs ESG Managers. According to the company’s Environmental and Social Policy, ESG Managers are responsible for overseeing the day-to-day implementation of its environmental and social policies.
Matrix Renewables employees are required to sign its ESG policy and return it to their ESG Manager, certifying that:
- I have reviewed the Environmental and Social Policy;
- I agree to abide by the Policy;
- I will review and comply with any future changes or updates to the Policy communicated to me in writing;
- I agree to report any potential violations through the Whistleblowing channel or by e-mail to the Chief Operating Officer or, as the case may be, the Compliance Officer, and I have already reported any potential violations of which I am aware;
- I understand that failure to comply with the Policy and all applicable laws in this respect may result in immediate termination and in referral for prosecution, with possible penalties including fines and imprisonment.
Matrix renewables has a corporate office in Miami, Florida.
It’s Managing Director for the United States lives is right here in Palm Beach County.
Cindy Tindell, represents the United States as Managing Director for Matrix Renewables. She also serves as State CommitteeWoman on the Board of the Republican Party of Palm Beach County.
Ms. Tindell, in her capacity as State CommitteeWoman, also sits on the Finance Committee for the Republican Party Of Florida (RPOF).
Quoted in PR Newswire, Ms. Tindell states:
“I’m delighted to undertake this new opportunity to work with the Matrix Renewables team. I’m looking forward to helping further develop Matrix Renewables’ global growth goals in the U.S. in promoting renewable and clean energy, backed by the sponsorship of The Rise Fund, TPG’s global impact investing platform and a global climate and environmental leader.”
Ms. Tindell has been State CommitteeWoman for the RPOF since 2012.
Meanwhile, deep in the Florida swamp, fresh on the heels of FL SB302, Woke alligators hide in plain sight.