 Energy & Environment |
Energy & Environment |
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PRESENTED BY CANADIAN ENERGY CENTRE |
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House Republicans fail to override Biden's ESG veto |
The GOP-led chamber on Thursday failed to override President Biden's first veto in a new vote, falling short of the necessary two-thirds majority. |
The vote was an attempt to revive a resolution targeting a Biden administration rule related to environmental, social and governance (ESG) investing. The chamber voted 219-200, with one Democrat voting with every Republican in favor of overriding the veto.
The vote comes after the House and the Senate approved a resolution that would undo the administration's rule, sending it to Biden's desk and forcing the first veto of his presidency.
Veto overrides are very rare for Congress and this particular effort was not expected to be successful (only one House Democrat supported the initial resolution). Still, it put most of the Democratic caucus on record as supporting this type of investing for the second time. The Biden administration rule in question clarifies that money managers can weigh climate change and other environmental and social factors when they make investment decisions related to retirement accounts. It replaces a previous Trump-era rule that Biden officials have said discouraged consideration of ESG factors "even in cases where it is in the financial interest of plans to take such considerations into account." Read more in a full report at TheHill.com. |
Welcome to The Hill's Energy & Environment newsletter, we're Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. |
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How policy will affect the energy and environment sectors now and in the future: |
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Transportation Secretary Pete Buttigieg said Thursday that the agency is reviewing its definition of a high-hazard flammable train in the wake of the East Palestine, Ohio, derailment. |
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| The Biden administration is finalizing more stringent efficiency requirements for both window air conditioners and portable air cleaners on Thursday, the first set of efficiency standards that are new and not just a reversal of a Trump-era rollback. |
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California lawmakers voted on Thursday to advance a bill that would penalize oil companies for "price gouging" — a first-of-its-kind legislation pushed forward in recent months by Gov. Gavin Newsom (D). |
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Branch out with a different read from The Hill: |
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AUSTIN, Texas – New legislation is heating up the long-running cold war between Texas’ relatively progressive cities and its GOP-dominated legislature. Local officials across … |
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A MESSAGE FROM CANADIAN ENERGY CENTRE |
Global events are shining a light on the importance of energy security for the United States. Canada's oil is trusted oil. It should be the preferred energy supplier to the US. Canada is recognized as an indisputable leader in environmental, social and governance (ESG) standards. So, if not Canada, who are you entrusting your country's energy security to? Find out more about why Canada is the solution. |
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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- Kansas Hunts for Water as Aquifer Levels Fall (The Wall Street Journal)
- Treasury to release EV tax credit guidance next week (E&E News)
- Shell recommends shareholders reject climate activist resolution (Reuters)
- What Does All This Rain Mean for California's Drought? (The New York Times)
- Utah's proposed crude oil railway could see an accident every year (High Country News)
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Two key stories on The Hill right now: |
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President Trump on Thursday called for the removal of every law enforcement official currently leading investigations into him. Read more |
| The chair of the House committee holding a hearing about TikTok on Thursday reminded the company's CEO that lying to Congress is a federal crime during a brief exchange about the availability of certain content on the platform. Read more |
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Op-eds related to energy & environment submitted to The Hill: |
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You're all caught up. See you tomorrow! |
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