ESG Rule
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The ESG Rule was promulgated by the Biden Administration through the Department of Labor to force retirement plans to limit themselves to climate change ESG guidelines.
On January 26, 2023, 25 Republican states sued the USDOL to block the ESG Rule, in the Northern District of Texas, Amarillo Division, where it was assigned to Judge Matthew Kacsmaryk.[1][2]
Sen. Joe Manchin (D-WV) joined all Republican Senators in order to invoke the CRA to stop this new Rule, which would force corporate managers and trustees of 401(k) plans to adopt ESG in their investments.