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Published 9 months ago

Biden ESG rule survives challenge from 25 red states

  • A federal judge in Texas ruled in favor of the Biden administration's climate-friendly 401 investing rule, allowing employee retirement plans to consider environmental, social, and governance issues in investment decisions.
  • The Labor Department's rule remains effective, overturning restrictions adopted by former President Trump's administration on considering ESG factors in investment decisions.
  • The rule covers plans that collectively invest $12 trillion on behalf of more than 150 million people, potentially impacting millions of Americans' retirement savings.
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