Florida Chief Financial Officer Jimmy Patronis has taken a hard stance against Environmental, Social, and Governance (ESG) standards, ordering asset managers in the Florida Deferred Compensation Plan to refrain from investing participants' compensation in any financial products related to ESG. The Deferred Compensation Plan is the supplemental retirement plan for employees of the State of Florida and currently encompasses 93,000 state employees with total assets of $5.1 billion.

The move comes in response to ESG's alleged undemocratic values, which run counter to the values of everyday citizens, according to Patronis. Additionally, he claims the unchecked growth of ESG has hindered investment funds from reaching their best returns.

"We've been boiled like a frog for too long, and it's time to hop out of the pot," Patronis said. "That's why today I directed that asset managers involved with Florida's Deferred Compensation program may not unilaterally direct participants' cash into funds associated with ESG standards.”

The directive orders all participating asset managers to remove ESG investment funds as options for participants in the Deferred Compensation Plan. The move reinforces Florida's earlier efforts to move state pension funds and other sources of capital away from ESG-compliant investing and towards more "traditional" investment goals. For many investors, this could create a legal and regulatory challenge to navigate, thus further testing their capacity to maximize returns while staying compliant with conflicting standards.

Emerging Markets set to host the largest tech festival, Blockchain Life 2023, in Dubai Internet City this February, bringing together tech leaders, experts and visionaries to explore the cutting-edge trends across 6 content tracks. Celebrities in the tech and startup scene such as Craig Sellars, Founder of Tether and Joel Dietz, CEO of MetaMetaverse will be giving lectures and keynote speeches. Participants will gain valuable insights to the latest trends in blockchain, artificial intelligence, the internet of things, augmented reality, virtual reality and the new potential of NFT utilities. Aside from the content-rich day program, the event will also host networking events and VIP dinners, which all will be streamed online.

Crypto “whales” and the “cream” of the crypto world will share their insights and set trends in crypto, while the Legendary AfterParty on the luxury yacht LOTUS, will be the perfect opportunity to get insider information and to establish lasting connections. With 4000 participants, Blockchain Life has updated its smart app - Networking 2.0 - to make sure every tech enthusiast finds exactly who they need.

Bringing together innovators and tech leaders from all around the world, Blockchain Life 2023 is surely a must-attend event for those looking to stay ahead in the tech industry and make meaningful connections.

With Serie A’s revenues criticized in the wake of the Juventus scandal and a looming global pandemic continuing to strain the Italian top flight, a glint of hope appears on the horizon. On Friday, the American investment bank JPMorgan Chase & Co. offered a potential windfall with a proposal to invest up to $1 billion in Serie A.

The potential ground-breaking deal is among several proposals that have been discussed by club executives in a private meeting. Although the European competition has lagged behind rivals such as the Premier League and LaLiga in terms of income generated from television broadcasting deals, Serie A clubs are hoping to adopt a meaningful investment structure that can revive their global appeal.

For the American offer to become a real possibility, clubs must agree to create a Serie A media subsidiary, facilitated through the consideration of the investment by JPMorgan. The clubs anticipate making their decision at a February 24th meeting, where they will also discuss their strategies to sell the 2024 broadcasting rights.

With Italian football struggling to compete with the Europan elite, Serie A clubs are cautiously optimistic that they may have found a savior in JPMorgan Chase & Co. With the potential to invest a record-breaking amount, the Italian top flight may soon be able to generate the revenue it needs to compete at a world-class level.