The U.S. Department of Labor (DOL) is finalizing a rule allowing companies to prioritize ESG policies when choosing retirement plans. It’s the last phase of a nearly two-year effort to reverse a Trump-era rule banning the practice.
The department said it was implementing the rule to “remove barriers to plan fiduciaries’ ability to consider climate change and other environmental, social, and governance factors when they select investments and exercise shareholder rights.”
Both the chief financial heads of Texas and Florida, and Florida Gov. Ron DeSantis, have taken action against ESG, an environmental, social, governance social credit score system, from being implemented in their states….