Biden issues first veto to protect socially conscious onvesting

WASHINGTON — President Joe Biden issued the first veto of his presidency Monday, turning back a Republican effort to bar investment managers from incorporating climate and social considerations into their decisions. The rule that the president vowed to protect is an obscure investing principle known as ESG — shorthand for prioritizing environmental, social and governance factors. It had been a widely accepted norm in financial circles for almost 20 years until Republicans recently started assailing it as “woke capitalism” that injected Democratic and liberal values into financial decisions. More than...