Biden's DOL Will Not Enforce Trump-era ESG Rule : comparemel

Biden's DOL Will Not Enforce Trump-era ESG Rule


Biden's DOL Will Not Enforce Trump-Era ESG Rule
The Department of Labor also announced it would not enforce a rule concerning proxy voting, saying it had heard from stakeholders that the rules had a 'chilling effect on appropriate integration of ESG factors in investment decisions.'
The Department of Labor will not enforce a Trump administration rule that made it harder for fiduciaries to use environmental, social or governance (ESG) factors and investment funds in retirement plans, the department announced Wednesday.
Additionally, the DOL will not enforce a Trump-era rule that limited proxy voting by a plan's fiduciaries on shareholder proposals that advanced ESG proposals unless a financial benefit could be demonstrated.

Related Keywords

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