US President Joe Biden has vetoed a bill that would prevent pension fund managers from considering climate change and ESG factors in their investment decisions.
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Kansas anti-ESG bill could reduce pension returns by $3.6bn March 15, 2023 Kansas’ proposed legislation to prevent ESG considerations by public contractors could lower state pension system returns by $3.6bn over the next decade. The Protection of Pensions and Businesses Against Ideological Interference Act would also cost the Kansas Public Employees Retirement System (KPERS) $1.14bn […]
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House passes resolution to repeal DOL ESG rule March 2, 2023 House lawmakers have approved a resolution to overturn the Department of Labor’s (DOL’s) new ESG rule for retirement plans, after 25 Republican states filed a suit to invalidate the rule. On February 28, the US House of Representatives rejected the DOL’s Prudence and Loyalty […]
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Republicans challenge DOL’s ESG rule February 8, 2023 In the latest anti-ESG action taken in the US, Republicans in the Senate and House have filed joint bills to nullify the Department of Labor’s (DOL’s) new ESG rule for retirement plans. On January 26, attorney generals from 25 Republican states filed a suit to invalidate the […]
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ESG investing has been met with hostility in the state of Texas, with Comptroller Glenn Hegar publishing blacklist of ESG funds.
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The US Department of Labor is set to formally abandon Trump-era plans to introduce anti-ESG legislation, and will engage with stakeholders to introduce new rules.
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