Posts tagged SEAN REYES
Biden ESG rule survives challenge from 25 red states
September 24, 2023 // Kacsmaryk’s 14-page ruling rejects the red states’ argument that the environmental and sustainable governance (ESG) rule violates the Administrative Procedure Act and the Employment Retirement Income Security Act, which regulates retirement plans. He wrote that the Biden administration rule still complies with those statutes, because it prioritizes financial considerations over environmental ones and thus has no “overarching regulatory bias in favor of ESG strategies.” “[W]hile the Court is not unsympathetic to Plaintiffs’ concerns over ESG investing trends, it need not condone ESG investing generally or ultimately agree with the Rule to reach this conclusion,” he wrote.