The Senate passed a measure Wednesday to block retirement account managers from considering environmental, social and corporate governance principles when evaluating 401(k)s.

The U.S. Senate on Wednesday passed a measure to block retirement account managers from considering environmental, social, and corporate governance principles (ESG) when evaluating investments in retirement plans.

The joint resolution measure, approved in a 50-46 vote, aims to overturn a Labor Department rule that currently allows fiduciaries to consider those factors. But it's set to be blocked when it arrives at the White House in what would be President Biden’s first veto since taking office.

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