News & Updates
The U.S. Department of Labor Issues Final Rule Related to the Consideration of ESG Factors in Pension Plan Investments
December 20, 2022
The U.S. Department of Labor has issued a final rule - Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights - related to the consideration of climate change and other environmental, social, and governance (ESG) factors in the investment of employer-sponsored pension plan assets.
In a news release, The U.S. Department of Labor Department said that the final rule removes the prior administration’s restrictions which "unnecessarily restrained plan fiduciaries' ability to weigh environmental, social and governance factors when choosing investments, even when those factors would benefit plan participants financially.”
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