by James Murphy, The New American:
More than two dozen states are suing the Biden administration over a Department of Labor (DOL) rule scheduled to take effect on Monday. The rule, which was originally announced in November, would undo a Trump era ban that prevented fiduciaries from using ESG (Environment, Social, Governance) factors when investing money in pension funds.
ESG requires funds to consider environmental and social factors when investing in companies. Many refer to ESG funding as “woke investing,” as it is required to factor in not only how companies are dealing with so-called climate change, but also their commitments to other woke issues such as LGBTQ rights and even abortion.