Biden Vetoes Bill for First Time to Block Anti-ESG Measure
- ESG factors have grown in popularity in financial sphere
- Veto portends more confrontations to come with House GOP
US President Joe Biden
Photographer: Jim Lo Scalzo/EPAThis article is for subscribers only.
Joe Biden issued the first veto of his presidency, rejecting legislation that would thwart a rule allowing retirement portfolio managers to weigh climate change and other environmental, social and governance issues in their investment decisions.
“The Department of Labor’s final rule protects the hard‑earned life savings and pensions of tens of millions of workers and retirees across the country” Biden said in a statement on Monday.