President Joe Biden has issued his first veto by preserving a Labor Department rule that allows retirement fund managers to consider climate change and social criteria when making investments. This move has created a debate over the use environmental, social, and governance (ESG) guidelines in retirement fund investments. While ESG had been buzzing in the past decade, recent finance research suggests that such investments produce lower returns compared to traditional investments, which could account for a decline in investment interest in the US. However, supporters of ESG argue that it favors climate-friendly or socially conscious firms, justifying a higher social return, but critics claim the goal of retirement accounts is to secure the most money possible for retirees. Biden justified his veto by saying that retirement plan fiduciaries should be able to consider any factor that maximizes financial returns for retirees. House Republicans' efforts to override his veto failed, and the debate over ESG guidelines in investment is still ongoing.