Half of all States Sue the Labor Department over ESG Rule

According to a February 6, 2023, Katten Law post https://quickreads.ext.katten.com/post/102i71z/half-of-all-states-sue-dol-over-esg-rule-foreshadowing-challenges-to-the-secs-e on January 26, 2023, twenty-five states and others sued the U.S. Department of Labor (DOL) @USDOL in connection with its December 1, 2022 ESG rulemaking, titled “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rightshttps://www.federalregister.gov/documents/2022/12/01/2022-25783/prudence-and-loyalty-in-selecting-plan-investments-and-exercising-shareholder-rights - According to Katten: “… When DOL adopted the Rule, Secretary of Labor Marty Walsh stated that the Rule ‘… clarifies that retirement plan fiduciaries can take into account the potential financial benefits of investing in companies committed to positive environmental, social and governance actions as they help plan participants make the most of their retirement benefits’…” #ESG #PlasticWaste #SingleUsePlastic @KattenLaw