Bloomberg Law
Aug. 23, 2021, 10:00 AMUpdated: Aug. 23, 2021, 9:11 PM

Biden Proposal Hints at ‘Nudge’ Toward ESG Retirement Investing (1)

Austin R. Ramsey
Austin R. Ramsey

A U.S. Labor Department proposal that is expected to undo limits the Trump administration set on socially conscious retirement investing could serve another purpose: giving regulators an open door to settle the debate over climate-friendly investing for good.

DOL’s Employee Benefits Security Administration turned over its highly anticipated environmental, social, and corporate governance proposed rule to the White House Office of Management and Budget earlier this month in what’s expected to be a rescission of former President Donald Trump‘s regulations curbing ESG investments and limits on how fiduciaries can exercise shareholder and proxy voting rights.

As the proposal undergoes ...

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