President Joe Biden has issued his first-ever presidential veto after Congress voted mostly along party lines to block a Labor Department rule that enables retirement plans to consider the long-term impact of social factors and climate change on investments. The rule is related to the Environmental, Social and Governance (ESG) investment strategy. While Democrats support such policies, Republicans regard them as “woke” and a needless burden on retirees. In his veto speech, Biden focused on the potential risk to individual retirement savings, emphasizing that investments that should be taken into account could be impacted by climate change or by overpaying executives. Republican opposition has mounted in conservative states such as Florida, Texas, and West Virginia while advocacy groups backed by conservative donors have launched a campaign claiming ESG investing is just another example of “woke” influence on big business.