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Biden Uses Veto To Preserve DOL Rule On ESG Investing

Member Jacob Hupart spoke to Law360 about President Biden's veto in Congress to preserve the Department of Labor's rule on ESG considerations when making investments into retirement plans. He commented, "This particular issue, which may seem fairly esoteric — e.g., what factors an investment manager overseeing a pension fund can consider when evaluating investments — has now become one of the latest wedge issues in the ongoing culture war between the right- and left-wing." Jacob predicts that while the congressional debate may be over, "it is likely that a similar battle over the use of ESG factors when making investments will soon erupt."