Biden issues first veto as president and defends ESG retirement plan rule

President Joe Biden issued his first veto yesterday, rejecting a bill that would have done away with a Labor Department rule that allows retirement plan managers to consider environmental, social, and governance, or ESG, factors in their investment decisions. In a statement, the president said financial managers should be able to consider any factor that maximizes returns for retirees. Democrats had criticized this rule, saying it unfairly penalizes industries like oil and gas.

nation-world, business , national-politics, news, politics