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INSANE: 3 | Vintage Vibes

House Republican introduces bill opposing ESG in retirement funds

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

10-year-old children found working at three McDonalds in Kentucky

Federal officials say two 10-year-olds are among the 300 children who worked at a McDonald’s restaurants in Kentucky with no or little pay

The Independent UK

Two 10-year-old kids found working at a Louisville McDonald’s until 2 a.m.—for no pay

The Labor Department found more than 300 minors working illegally at McDonald’s restaurants operated by three franchisees.

Fortune

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McDonald’s franchises fined for child labor violations

Federal officials say two 10-year-olds are among the 300 children who worked at a McDonald’s restaurants in Kentucky with no or little pay

The Independent UK

Firm that hired kids to clean meat plants keeps losing work

The slaughterhouse cleaning company that was found to be employing more than 100 children to help sanitize dangerous razor-sharp cutting equipment has continued to lose contracts with the major meat producers since the investigation became public last fall

The Independent UK

US recurring jobless claims jump to highest since November 2021

Recurring U.S. unemployment benefit claims jumped to the highest level since November 2021, indicating some softening in the labor market.

Tribune News Service

House attempt to override Biden comes up short

WASHINGTON — House Republicans came up short in their effort to override the first veto of President Joe Biden’s presidency, meaning Labor Department regulations permitting consideration of environmental, social and governance (ESG) factors in investing will stand.

Tribune News Service

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House attempt to override Biden comes up short - Roll Call

A regulation allowing pension managers to weigh ESG factors will stand, after the House did not override Biden's veto.

Roll Call

Biden vetoes Congressional Review Act resolution that aimed to block ESG retirement plan rule

Ballotpedia

Biden’s first veto backs pension investments that consider social and environmental factors

WASHINGTON — President Joe Biden issued the first veto of his presidency Monday, keeping in place a Labor Department regulation allowing retirement plans to consider environmental and social factors in their investment decisions.

Tribune News Service

Biden issues first veto on anti-ESG investing legislation

Conservative groups have derided ESG as "woke capitalism" and have set out to dismantle it.

Axios

Biden issues first veto, defending Labor Dept. 'ESG' rule

President Joe Biden has issued the first veto of his presidency as he seeks to block Republican-led efforts in Congress to overturn a Labor Department rule allowing retirement plans to consider environmental, social and governance factors when making investment decisions

The Independent UK

Biden’s first veto backs pension investments in ESG - Roll Call

President Joe Biden vetoed an attempt to block pension investment managers from weighing environmental and social justice factors.

Roll Call

5 key takeaways from the February US jobs report

The American job market has once again confounded expectations

The Independent UK

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Ballotpedia

Congress rejects ESG in retirement plans

Axios

The investing rule expected to force Biden's first veto

Democratic Sens. Jon Tester and Joe Manchin bucked their own party and joined Republicans to pass the bill.

Fortune

How do you plan for retirement in the face of greater climate risks?

Some say embracing ESG is the answer. Others say ESG is the problem.

Tribune News Service

Senate clears resolution to nullify rule forcing climate considerations in investing; Biden plans veto

WASHINGTON — The Senate on Wednesday cleared a resolution that would disapprove of a Labor Department rule allowing retirement plans to consider climate factors in their investment decisions, setting the stage for the first veto of President Joe Biden’s presidency.

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Roll Call

Senate clears resolution to nullify 'ESG' rule; Biden plans veto - Roll Call

President Biden is likely to veto his first piece of legislation, a resolution that would nullify a Labor Department investment rule.

Tribune News Service

Biden taps Julie Su to lead Labor Department

WASHINGTON — President Joe Biden said Tuesday that he would nominate Julie Su, the deputy secretary of labor and the preferred choice of the Congressional Black Caucus, to become secretary of the Department of Labor.

Axios

Biden to nominate Julie Su to head Labor Department

Su, a longtime workers' rights advocate, would be the administration's first Asian American cabinet-level secretary.

Ballotpedia

House to vote this week on Department of Labor’s ERISA/ESG rule

Fox News reported on February 24 that the U.S. House will vote this week on a measure opposing the Labor Department’s rule allowing ESG consideration in ERISA-governed retirement funds:

Roll Call

Biden taps Su to lead Labor Department - Roll Call

President Joe Biden said Tuesday that he would nominate Julie Su, the deputy secretary of Labor, to become Labor secretary.

Tribune News Service

Millions of US workers are still missing after the pandemic. Where did they go?

Millions of workers are still missing from the U.S. labor force three years after COVID-19 surfaced, and economists are scratching their heads as to how big the gap actually is and where all these people went.

Ballotpedia

Economy and Society, February 21, 2023: Will Congress block Biden’s ESG retirement plan rule?

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