Should Corporations Plan for Climate Impacts? Biden Veto Sparks Debate

March 22, 2023

I posted the other day on the exposure of mortgage lenders to climate risk, something climate deniers are desperate to hold at bay. Another example that what right wingers call “Woke” is simply acknowledging reality.


U.S. President Joe Biden on Monday rejected a Republican proposal to prevent pension fund managers from basing investment decisions on factors like climate change, in the first veto of his presidency.

“I just signed this veto because the legislation passed by the Congress would put at risk the retirement savings of individuals across the country,” Biden said in a video posted on Twitter.

The bill cleared Congress on March 1, when the Senate voted 50-46 to adopt a measure to overturn a Labor Department rule making it easier for fund managers to consider environmental, social and corporate governance, or ESG, issues for investments and shareholder rights decisions, such as through proxy voting.

Below, further discussion on CNBC, with Vivek Ramaswamy, who apparently thinks this issue will vault him into the top tiers of Presidential candidates. Mr Ramaswamy has, tellingly, endeared himself to the right by expressing outrage that former President Trump might be held accountable for tax fraud, or, presumably, for shooting someone on Fifth Avenue, or anything else.


3 Responses to “Should Corporations Plan for Climate Impacts? Biden Veto Sparks Debate”

  1. neilrieck Says:

    Not sure how many people saw this November-2022 publication but it kind of explains the current political-economic turmoil in the western world. It is titled “From Anti-Government to Anti-Science: Why Conservatives Have Turned Against Science”

    I recommend everyone download a PDF copy which you can send to your uncle-know-it-all during Easter break.

    • J4Zonian Says:

      Descriptions of political facts are necessary, yes, so thanks for that. But far more important would be psychological assessments leading to treatment, whether individual therapy (extremely unlikely; those society needs most to seek treatment rarely do by choice) or the use of symbols in mass communication. The right wing has very effectively used mass symbols to spread their disease; it’s way past time to use them to heal it.

  2. rhymeswithgoalie Says:

    Bah! People shouldn’t be investing in funds based on environmental, social and governance factors, but in one of the over 400 cryptocurrencies available today!

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