President Biden recently used his first veto to preserve the Department of Labor rule permitting ERISA retirement plan fiduciaries to consider ESG factors in their clients’ retirement investment portfolios so long as such considerations are relevant to a risk and return analysis. 29 C.F.R. § 2550.404a-1(b)(4) (2022). The Department of Labor’s (DOL) rule, titled “Prudence … Continue Reading
In our previous articles (Lack of Uniformity in ESG Ratings System Poses Risks and Opportunities, ESG Regs Abroad Offer Road Map For US Multinational Cos. & ESG Enforcement Risks: From “Greenwashing” to “Wokewashing”), we recommend that public entities begin re-visiting their ESG-related practices and policies in light of the expected ESG public disclosure amendments from … Continue Reading
