Utah Gov. Spencer Cox signed a joint letter with Florida Gov. Ron DeSantis and 17 other governors this week to push back against President Joe Biden's use of environmental, social and governance investing in federal retirement funds.
Both Democratic Sens. Joe Manchin of West Virginia and Jon Tester of Montana, as well as Democratic Rep. Jarred Golden of Maine joined Republicans in approving the resolution.The Biden administration's rule would allow federal retirement plan fiduciaries to consider climate change and other environmental, social and governance factors when they select retirement investments and exercise shareholder rights on behalf of employees contributing to federal pensions.
Last Month, the White House argued the rule only "reflects what successful marketplace investors already know — there is an extensive body of evidence that environmental, social, and governance factors can have material impacts on certain markets, industries, and companies."
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