Bloomberg Law
Feb. 18, 2022, 10:30 AM

Why Your 401(k) Is Central to Biden’s Climate Agenda: Explained

Austin R. Ramsey
Austin R. Ramsey

The Biden administration is giving an assist to self-directed retirement plans struggling to keep up with an investment landscape that’s rapidly turning a more vibrant shade of green, easing Trump-era restrictions and hinting at broader guidance that could make investing to protect the environment a default choice.

The administration wants to make good on an ambitious climate change agenda that’s been otherwise mired by congressional infighting on Capitol Hill. To do that, President Joe Biden is harnessing U.S. Labor Department control over employer investment management to help steer workers’ hard-earned money in 401(k)s and small private pensions through the risky ...

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