GOP Hostility to New Climate Investing Rule Stalls Benefits Pick

Republican lawmakers’ opposition to a Biden administration proposal to favor environmentally conscious retirement funds is delaying Senate action on President Joe Biden‘s pick to oversee private-sector employee benefits.

GOP members of the committee considering Lisa Gomez’s nomination to run the U.S. Department of Labor’s benefits arm want answers to questions they’ve submitted to her and to the administration about the new rulemaking on the use of environmental, social, and corporate governance factors in retirement portfolios, a senior Republican staffer on the panel told Bloomberg Law.

Sen. Patty Murray (D-Wash.), who chairs the Health, Education, Labor, and Pensions Committee, agreed ...