exterior facade of Dept of Labor building (Photo: Mike Scarcella/ALM Media)

Republican attorneys general representing 25 states last week filed suit in a Texas federal court seeking to block the Labor Department rule that allows fiduciaries to consider climate change and other environmental, social and governance factors when they select retirement investments and exercise shareholder rights.

“This rule is an affront to every American concerned about their retirement account,” Attorney General Ken Paxton, explaining why the suit was filed. “The fact that the Biden Administration is now opting to risk the financial security of working-class Americans to advance a woke political agenda is insulting and illegal.”

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