03.20.23
Biden Vetoes Bill for First Time To Block Anti-ESG Measure
by: Akayla Gardner
U.S. President Joe Biden issued the first veto of his presidency, rejecting legislation that would prevent portfolio managers from weighing environmental, social and governance issues in their investment decisions. A U.S. Department of Labor rule issued earlier in his presidency sought to undo a requirement approved under the previous administration mandating that workplace retirement-plans focus purely on financial gains. A measure blocking the rule was passed by lawmakers earlier this month, but the vote tally in both chambers indicates that Congress lacks the two-thirds majority needed to override a Biden veto.
Read the full article on Bloomberg