By Benjamin Mullin
Source: The New York Times
A Biden administration rule that allows employee retirement plans to consider environmental, social and governance issues in investment decisions survived a legal challenge by 26 states on Thursday.
Judge Matthew J. Kacsmaryk of U.S. District Court in Amarillo, Texas, said in a 14-page opinion that he would not block the rule, part of the so-called E.S.G. investment trend that places emphasis on companies’ records on labor issues, social justice and environmental factors.