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A Biden-era Labor Department rule that permits environment, social and governance factors to be considered in 401(k) investing was again upheld by a Texas federal judge in Amarillo, Texas, essentially rejecting arguments by 26 attorneys general in Republican states, whose challenge to the regulation had been sent back to the district court by the Fifth Circuit.
The DOL’s ESG rule has been challenged since it took effect Jan. 30, 2023. The rule allowed that retirement fund managers may consider environmental, social and governance factors when choosing investment funds.
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