Bill vetoed by Biden would have kept fund managers from considering climate risk, social factors in pension fund investments
For some time, investment fund managers have considered it prudent to take into account climate risk along with other factors in their decision-making.
There’s some analysis from surprising sources that the opposite is the case. Nevertheless, a Republican-backed bill to overturn the rule made it to President Joe Biden’s desk, prompting his firstSimilar proposals to prohibit so-called ESG investing are being advanced in various Republican-controlled states. Yet government-generated reports in Indiana and Kansas — hardly liberal strongholds — conclude restricting consideration of such factors could cost pension funds billions of dollars.
The Kansas Public Employees Retirement System investment portfolio returns “would decrease by $3 billion over the next ten years compared to the current investment portfolio” if the proposal becomes law, a budget department analysis said.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Democrats attempt to amend bill that would ban gender affirming care but are blocked by RepublicansLawmakers on both sides of the aisle haven't budged on senate bill 480. Republicans say the bill is about protecting kids. Democrats say the general assembly is inserting itself into hospital rooms.
Leer más »
AOC cries 'fascism' as Republicans advance parents bill of rightsDemocrats accused their Republican colleagues of wanting to ban books and prevent children from learning about the holocaust and gay and transgender issues as the House began a heated floor debate on HR 5, the Parents Bill of Rights.
Leer más »
Republicans press Biden admin on its false oil, gas permitting claimsA coalition of GOP lawmakers is demanding answers from a top Biden official after the administration quietly admitted its oft-used fossil fuel permitting figure was inaccurate.
Leer más »
Energy group asks Republicans to investigate Biden's interior secretary over ethics violationsA leading oil and gas industry group is raising the alarm on Interior Secretary Deb Haaland's potential conflicts of interest, asking Republicans to open an investigation.
Leer más »
Republicans Fail To Override Biden’s First VetoPresident Biden rejected a Republican-backed bill earlier this week that would have prohibited retirement fund managers from incorporating so-called woke factors into investment decisions.
Leer más »