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DOL Signals Plan to Embrace ESG Investing Friday, March 12, 2021 On Wednesday, March 10, 2021, the Department of Labor announced that, pending further guidance, it will not enforce two recent regulations that many viewed as deterring retirement fund managers from socially conscious investing. 1 Wednesday’s statement likely foreshadows guidance or even further rulemaking by the DOL to affirmatively support investments in such Environmental, Social and Governance (ESG) funds. The regulations in question which were released in the waning days of the Trump administration over a groundswell of objections from asset managers 2  did not expressly prohibit retirement plan managers from considering ESG factors in administering 401(k)s, pension plans and other retirement plans.

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