WASHINGTON : The Republican-controlled U.S. House is expected to vote on Tuesday on a bill to block President Joe Biden's administration from allowing retirement plans to consider environmental, social and corporate governance, or ESG, issues in their investment decisions.Republicans believe they could ha
WASHINGTON : The Republican-controlled U.S. House is expected to vote on Tuesday on a bill to block President Joe Biden's administration from allowing retirement plans to consider environmental, social and corporate governance, or ESG, issues in their investment decisions.
The measure is the latest salvo in the Republican culture war against the use of issues that promote environmental interests, social equality and corporate responsibility in business and investment decisions. "Retirement plans should be solely focused on delivering maximum returns, not advancing a political agenda," said Republican Representative Andy Barr, who introduced the House resolution."If Congress doesn't block the Department of Labor's rule greenlighting ESG investing in retirement plans, retirees will suffer diminished returns on the investment of their hard-earned money.
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