GOP States Seek Quick Vacatur Of Labor Officials’ Climate Investing Rule

A group of Republican states is urging a federal district court judge to vacate the Labor Department’s (DOL) rule allowing retirement plan managers to consider climate-related factors in their investments, arguing the policy arbitrarily allows fund managers to consider issues besides economic performance. In a May 16 motion for summary judgment , a Utah-led coalition of over two dozen states as well as some oil and gas interests, urges the judge to quickly agree with their merits arguments that the...