News Formal

Republican drive against Biden ESG investment rule gains momentum

  • 📰 Reuters
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 97%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

A Republican drive to prevent pension fund managers from considering factors like climate change in their investment decisions gained momentum on Wednesday, as a second U.S. Senate Democrat said he would support the measure in an afternoon vote.

"I'm opposing this Biden Administration rule because I believe it undermines retirement accounts for working Montanans and is wrong for my state," Tester said in a statement.

The resolution would block the Labor Department from enforcing a rule that makes it easier for plan managers to consider environmental, social and corporate governance issues in their investment decisions and when exercising shareholder rights, such as through proxy voting. The political battle marks the latest clash in a Republican war against what they decry as "woke" business practices that is likely to intensify as the 2024 presidential campaign gets under way.

Senate Democratic leader Chuck Schumer accused Republicans of interfering with private investing decisions, saying on the Senate floor that they are "forcing their own views down the throats of every company and every investor."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

You forgot to mention the democrats voted against it too. Must have been a good reason for it.

It’s all over but just had to

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Biden could issue his first veto as Congress prepares to vote against ESG investment ruleLawmakers have said the Department of Labor rule 'politicizes' the retirement savings for millions of Americans and are voting to disapprove the rule and kill it. The Senate. BIDEN IS AN EVIL PIECE OF FILTH EVIL TREASONOUS CHI COM RUSSIAN UKRAINE PUPPET !
Source: FoxNews - 🏆 9. / 87 Read more »

House votes to kill Biden’s ‘woke’ ESG investment rule that props up ‘phony climate movement’The House voted Tuesday to kill a Biden administration rule encouraging retirement plan fiduciaries to invest in ESG companies, which the GOP says is a disaster for retirees. Good for the house, and that's as far as it goes. Theatre There's No such term as 'woke'... Disinformation LORD Rev. 'Murdoch/Fox thank you SpeakerMcCarthy
Source: FoxNews - 🏆 9. / 87 Read more »