A U.S. appeals court has ordered a Texas judge to reconsider his decision upholding a Biden administration rule that allows socially conscious investing by employee retirement plans. The court cited a recent Supreme Court ruling that eliminated Chevron deference, requiring courts to use their independent judgment in deciding whether agency rules are valid. The rule, which took effect in February 2023, allows retirement plans to consider environmental, social, and corporate governance factors as a “tiebreaker” between investment options. The case was brought by 25 Republican-led states and Liberty Energy. The rule will remain in place for now while the judge reconsiders the case.
U.S. appeals court orders judge to reconsider Biden administration ESG investing rule
13 responses to “U.S. appeals court orders judge to reconsider Biden administration ESG investing rule”
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