25 attorneys general sue Biden admin over retirement investment rule that places ‘woke’ priorities over profit
January 27, 2023 | Vivek Saxena | Print Article
Twenty-five attorneys general from across the states have declared war on President Joe Biden’s new ESG rule.
As previously reported, last year the administration reversed a Trump-era rule that had effectively prohibited pension funds from investing retirees’ money into funds that benefit the environment but aren’t necessarily the best investment options.
The old rule had made it so that pension funds had to prioritize maximizing profit over trying to save the planet. As a result, pension funds weren’t allowed to factor in an investment’s ESG score.
According to the Corporate Finance Institute, an ESG score is a “measurement or evaluation of a given company, fund, or security’s performance with respect to Environmental, Social, and Governance (ESG) issues.”
It’s basically a measurement of how “woke” an investment or company is vis-a-vis taking care of the environment.
https://www.bizpacreview.com/2023/01/27/25-attorneys-general-sue-biden-admin-over-retirement-investment-rule-that-places-woke-priorities-over-profit-1328115/
