In March, President Joe Biden pulled out his pen to sign the first veto of his presidency, blocking a Republican proposal that sought to overturn federal rules that made it easier for fund managers to examine environmental, social, and corporate governance (ESG) for investments.
The legislative kerfuffle around ESG has been brewing for years, with actions swinging drastically depending on which party is in charge. Under the Trump administration, the U.S. left the Paris climate agreement. Just a few years later, under Biden, the Inflation Reduction Act was signed into law, billed as the most consequential climate legislation in U.S. history owing to tax credits and incentives meant to help companies address climate change. On the state level, Florida is leading the charge with 18 other states in a movement against ESG investing.
