Biden vetoes protection against Trump-era ban on federal managers of retirement plans considering factors such as climate change, social impacts or pending lawsuits when making investment choices.
ESG bill = Environmental, Social, and Corporate Governance.
This bill allows pension fund managers to invest in ESG compliant companies WITHOUT LIABILITY TO ITS CLIENTS. Previously, fund managers could be held liable for not maintaining the best financial interests of the employees' retirement funds. Now, fiduciary responsibility is gone.
Will the GOP fight it? Naaah, probably not.
ESG bill = Environmental, Social, and Corporate Governance.
This bill allows pension fund managers to invest in ESG compliant companies WITHOUT LIABILITY TO ITS CLIENTS. Previously, fund managers could be held liable for not maintaining the best financial interests of the employees' retirement funds. Now, fiduciary responsibility is gone.
Will the GOP fight it? Naaah, probably not.
Biden issues first veto, taking on new Republican House | AP News
WASHINGTON (AP) — President Joe Biden issued the first veto of his presidency Monday in an early sign of shifting White House relations with the new Congress since Republicans took control of the House in January — a move that serves as a prelude to bigger battles with GOP lawmakers on government sp..
https://apnews.com/article/joe-biden-veto-esg-labor-congress-woke-5971f2ee28c04b7dd8727606185cc53f
09:28 PM - Mar 21, 2023
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