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Roughly a year ago, the Labor Department issued a proposed new rule on “Financial Factors in Selecting Plan Investments”—but that, as they say, was then. This week, we asked readers if their—and their plan sponsor clients’ perspective(s) had changed.
On 20 May 2021, President Biden announced an Executive Order to help “tackle the climate emergency,” a top priority for his Administration.1 The Executive Order builds upon the...
The president appears to want to pave the way for more ESG investing in retirement plans.
To print this article, all you need is to be registered or login on Mondaq.com. On Thursday, May 20, 2021, US President Biden signed an Executive Order, entitled "Climate-Related Financial Risk" (Climate Risk EO), that sets the stage for the US federal government, including its financial regulatory agencies, to begin to incorporate climate-risk and other environmental, social and governance (ESG) issues into financial regulation. The Climate Risk EO further demonstrates the priority the Biden administration is giving to addressing climate change and will likely accele...
Biden issues executive order to assess, mitigate climate-related financial risks Bloomberg President Joe Biden signed an executive order Thursday directing federal agencies to assess and mitigate financial risks related to climate change. Under the order, agencies are required to develop a governmentwide strategy within 120 days to measure, mitigate and disclose climate risks. Moreover, the Office of Management and Budget is required to annually publish an assessment of the federal government's climate-risk exposure. The order also directs Treasury Secretary Janet Yellen, in her role as the c...