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Bill Would Allow Retirement Plans to Use ESG Investments The legislation, which follows a year of back-and-forth on ESG investing, would amend ERISA to make it clear that plans may consider ESG factors in their investment decisions. U.S. Senators Tina Smith, D-Minnesota, and Patty Murray, D-Washington, and U.S. Representative Suzan DelBene, D-Washington, have introduced legislation in both chambers of Congress that they say would provide legal certainty to workplace retirement plans that choose to consider environmental, social and governance (ESG) factors in their investment decisions or offer ESG investment options. The bill, called the Financial Factors in Selecting Retirement Plan Investments Act, would amend the Employee Retirement Income Security Act (ERISA) to make it clear that plans may consider ESG factors in their investment decisions provided they consider such investments in a prudent manner consistent with their fiduciary obligations. The legislators note that this i

United statesDonald trumpLisa wollJoe bidenAron szapiroSuzan delbeneTina smithKenneth bentsen jrCatherine reillyPatty murrayAmerican retirement associationDepartment of laborEmployee benefits security administrationForum for sustainablePensions committeeSenate banking committee