Major advertising campaign expected ahead of Biden’s first veto

A A consumer advocacy group has launched a campaign to rail against governance, environmental, and social. ESG Investing before President Joe Biden Most likely veto of legislation This is the bottom line.

Consumers’ Research is opposed to ESG and funds digital ads and billboards on mobile phones that will be used for blanket advertising. Washington, D.C. To stir up opposition to this controversial investment strategy. Biden has confirmed to the White House that he will veto a Republican-backed law to reverse a Labor Department rule allowing retirement plans to take into account ESG when making investment decisions.

WHITE HOUSE CONFIRMS BIDEN VOTE GOP-BACKED ANTI–ESG BILL

“The first piece of bipartisan legislation sent to Joe Biden’s desk during this Congress is legislation intended to keep progressive politics out of investment management. But, Biden is likely to veto this legislation, in an attempt to protect the ESG agenda,” Will Hild, executive Director of Consumers Research, tweeted.

Alternative definitions of ESG are offered in the campaign. “Erasing Savings & Growth,” “Elitists, Socialists & Grifters,” “Enabling Slave labor and Genocide.”

ESG investing has become a hot topic in the culture wars. It has prompted backlash from Republicans as well as conservatives, who have decried this investment strategy. “woke.” Both the Senate and the House have already passed legislation to nullify the rule of the Biden administration.

Sens. Senators. The White House claims that the move will cause financial hardship to investors and retirees.

“It forces MAGA Republicans’ ideology down the throats of the private sector and handcuffing investors as well. The bill would bar fiduciaries from considering significant risks like extreme climate threats and poor corporate governance when they make investment decisions,” Karine Jean Pierre, the press secretary, told reporters earlier this month.

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Trump’s rule banning money managers from considering climate change and other ESG issues in investment decisions was overthrown by the Biden administration policy.

Biden is expected in the near future to issue the veto. This will be his first administration.