Page 8 - Selecting Plan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Biden team to review Labor Department ESG rule Bloomberg U.S. President Joe Biden signs an executive order in the Oval Office on Jan. 20, 2021. The Biden administration will review a recent Department of Labor rule stipulating that ERISA plan fiduciaries cannot invest in "non-pecuniary" vehicles that sacrifice investment returns or take on additional risk. In the order, Mr. Biden directed all executive departments and agencies "to immediately review and, as appropriate and consistent with applicable law, take action to address the promulgation of federal regulations and other actions during t...

This paper attempts to provide a definition and context for the term, Environmental, Social and Governance (“ESG”), explain how and why it is used, demonstrate how investors are driving the proliferation of ESG reporting, illuminate how investor reliance on ESG information creates new risks for reporting companies, and suggest steps attorneys can take to help mitigate the risks. This paper also provides a short summary on some hot topics in the ESG world. I.  The Evolution of ESG Disclosures A.  What is ESG? In basic terms, ESG is a collection of information about a company’s operat...