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ESG 401(k) Investing Regulation Issued by Labor Department

Nov. 30, 2022, 2:11 PM

The US Labor Department has formally issued its highly anticipated final rule on climate change retirement investing and proxy voting.

The final rule, published in the Federal Register on Wednesday for public inspection, allows private-sector retirement plans to consider environmental, social, and corporate governance factors when choosing investments. DOL officials had circulated a copy of the final rule on Nov. 22.

Once the rule is formally published in the Federal Register, it will be effective 60 days later, except for certain proxy voting provisions that will take effect in a year.