DOL Official Touts Consensus On Plan To Consider Climate Risk In Pensions

A Department of Labor (DOL) official is asserting that a proposed rule to enable pension plan managers to consider climate and other environment, social and governance (ESG) factors in their investment decisions should be uncontroversial, framing the rule as a necessary clarification rather than a policy push for increased investment in climate-conscious funds. “[The rule] simply says that whether [ESG factors] are financially material, you should be thinking about them. That concept shouldn’t be controversial politically or otherwise because no...