U.S. House Passes Repeal of Biden ESG Investment Rule

The U.S. House has approved a resolution to roll back the Biden administration’s rule giving more authority to fiduciaries to consider environmental, social, and governance (ESG) factors in 401(k) plans and other investment vehicles. It’s unclear if the GOP measure can pass the Senate.

Politico reports some congressional Democrats have introduced legislation to codify the Biden administration’s ESG rule. 3/2/2023