October 31

Republican-Led US States Appeal Ruling Allowing Biden ESG Investing Rule

By Daniel Wiessner

A group of Republican-led U.S. states on Thursday said they would appeal a Texas-based federal judge’s decision rejecting their challenge to a rule from President Joe Biden’s administration allowing employee retirement plans to consider environmental, social and governance (ESG) issues in investment decisions.

The 26 states, led by Texas and Utah, filed a notice of appeal in federal court in Amarillo. U.S. District Judge Matthew Kacsmaryk threw out their lawsuit on Sept. 21. Oil drilling company Liberty Energy Inc (LBRT.N) and an oil and gas trade group are also plaintiffs in the case and joined in the appeal.

Photo courtesy of Micheile Henderson.

Source: Reuters (link opens in a new window)

climate change, decarbonization, ESG, governance