Combined ESG, Proxy Voting Regulation OK’d by White House

The White House has released a U.S. Labor Department rule expected to undo limits the Trump administration set on socially conscious retirement investing.

The Office of Office of Management and Budget’s information and regulatory affairs unit on Tuesday concluded its review of the proxy voting and environmental, social, and corporate governance investing rule. It’s now up to DOL’s Employee Benefits Security Administration to formally publish the regulation, starting the clock for an eventual effective date.

President Joe Biden has taken a special interest in ESG investing since he took office, freezing Trump’s measures and issuing two executive orders requiring a ...