Industry Urges DOL To Avoid Requiring Pensions To Mull Climate Risks

Financial sector industry groups are pressing the Labor Department (DOL) not to require retirement plans and pensions to consider or report climate change-related risks, arguing that doing so would unfairly prioritize those risks over other financial risks. However, others including sustainable investor groups and analysts say the department could play an important role in setting policies that protect retirement savings from climate risks. The arguments respond to a Feb. 14 request for information (RFI) from DOL’s Employee Benefits Security Administration...