Battles Over ESG in 401(k)s Will Outlast Judge’s Surprise Ruling

The decision late last week by a Trump-appointed judge to allow a contentious ESG-themed 401(k) Biden administration rule to stand is a major blow to “woke” investing critics, but it appears unlikely to quell fervent political opposition to do-good investing strategies.

US District Court for the Northern District of Texas Judge Matthew J. Kacsmaryk Sept. 21 granted the US Labor Department’s cross-motion for summary judgment in a case brought by more than two dozen red-state attorneys general. The ruling effectively green lights a regulation (87 Fed. Reg. 73822) allowing workplace retirement plans to consider environmental, social, and corporate ...