Doing good and saving for retirement may soon get easier.
BlackRock Inc. and Wells Fargo & Co. are developing their first-ever ESG funds for retirement savings plans, seeking to tap into growing demand for ethical investing. Both firms plan to create a series of target-date funds with this focus, according to people familiar with the matter, with BlackRock aiming to debut some later this year.
The asset managers are betting that a surge in interest in environmental, social or governance investing will carry through to 401(k)s, where there are few such options. While assets under management in ESG funds tracked ...