Biden Administration Faces Lawsuit From 25 States Over Federal ESG Policy

Lawsuit alleges rule jeopardizes retirement savings of two-thirds of U.S. population

  • In a lawsuit against the Biden administration, twenty-five attorneys general and numerous other plaintiffs are requesting the court block a federal Environmental, Social, and Governance (ESG) investment policy.
  • The rule in question was finalized by the U.S. Department of Labor last fall and permits companies to prioritize ESG policies when selecting retirement plans.
  • The lawsuit alleges the rule prioritizes “woke” investing that puts the retirement savings of 152 million workers at risk.