DOL floats plan to protect pensions from climate risk

November 11, 2021
The White House Office of Management and Budget (OMB) has begun formal review of a Labor Department (DOL) plan, required by President Joe Biden’s climate finance order, that will seek comment on options to protect savings and pensions from climate-related financial risk. According to OMB’s website, DOL Oct. 10 formally submitted the draft prerule, titled “Possible Agency Actions to Protect Life Savings and Pensions from Threats of Climate-Related Financial Risk,” for interagency review. The plan responds to a series of...

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