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Biden's first Veto, ESG for you

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  • rickt300

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    BANNED!!!
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    Dec 18, 2022
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    On Monday, President Joe Biden issued the first veto of his presidency, striking down a law sent to his desk that would have reversed a rule from the Labor Department that focused on environmental, social, and governance (ESG) investing.


    “I just vetoed my first bill,” Biden said in a post to Twitter. “This bill would risk your retirement savings by making it illegal to consider risk factors MAGA House Republicans don’t like. Your plan manager should be able to protect your hard-earned savings — whether Rep. Marjorie Taylor Greene likes it or not


    • Environmental, social, and governance (ESG) investing is used to screen investments based on corporate policies and to encourage companies to act responsibly.
    • Many mutual funds, brokerage firms, and roboadvisors now offer investment products that employ ESG principles.
    • ESG investing can also help portfolios avoid holding companies engaged in risky or unethical practices are held accountable.
    • The rapid growth of ESG investment funds in recent years has led to claims that companies have been insincere or misleading in touting their ESG accomplishments.
     

    rickt300

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    BANNED!!!
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    Dec 18, 2022
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    Texas
    More than two years into his administration, President Joe Biden used his veto power for the first time on Monday, killing a bipartisan resolution that would have reversed a final rule from the Department of Labor that pushes woke ESG standards as a priority over profitability for Americans' retirement accounts.




    In a statement, President Biden sought to justify his veto by claiming that the final rule "allows retirement plan fiduciaries to make fully informed investment decisions" while "ensuring that investment decisions made...maximize financial returns for retirees."

     
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    Havok1

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    May 10, 2021
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    ESG always has and always will underperform. What’s unfortunate though is that he tries to blame “MAGA republicans” for harming peoples investments when the goal here is to no longer prioritize what’s best for investors. Sadly, most people do not know anything about how their money is invested.
     

    oldag

    TGT Addict
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    7   0   0
    Feb 19, 2015
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    ESG always has and always will underperform. What’s unfortunate though is that he tries to blame “MAGA republicans” for harming peoples investments when the goal here is to no longer prioritize what’s best for investors. Sadly, most people do not know anything about how their money is invested.
    Several different studies have shown that the ESG funds underperform for the most part.
     

    bbbass

    Looking Up!!
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    Sep 2, 2020
    2,825
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    NE Orygun
    Wait!!!

    I've been told that ESG is just another right-wing nutjob conspiracy theory!

    Or was that WEF global goals?

    Or was it DEI scores?

    Or Biden laptop; or Covid origin; or open border? Shoot I can't keep them straight anymore!!
     

    Texan79423

    Well-Known
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    2   0   0
    Jun 7, 2021
    1,204
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    Flatlands
    Just one more step for the New World Order. They have to complete the sell off before 2024.
    destroy.jpg
     
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