Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • Supply Chain Updates
  • Global News
  • Contact Us
  • Home
  • Supply Chain Updates
  • Global News
  • Contact Us
No Result
View All Result
No Result
View All Result
Home Supply Chain Updates

Biden Could Reverse DOL’s Rule against ESG Retirement Investing

usscmc by usscmc
January 22, 2021
Biden Could Reverse DOL’s Rule against ESG Retirement Investing
Share on FacebookShare on Twitter

The Biden administration could help reverse decisions under Trump’s U.S. Department of Labor that make it harder for fiduciaries of retirement plans to steer money toward environmental, social, and governance (ESG) funds.

In his first week of office, President Joe Biden has signed an executive order that will review the Labor Department’s 2020 ruling on ESG investments, or Financial Factors in Selecting Plan Investments, Bloomberg reports.

After the presidential election in November, the Department of Labor adjusted the Employee Retirement Income Security Act of 1974 to require fiduciaries of retirement pensions and 401(k) plans to put economic interests ahead of “non-pecuniary goals”, deterring them from looking at environmental, social, and governance investing.

“We are very pleased that the Biden Administration recognized the ESG rule as flawed and in need of immediate review,” Bryan McGannon, director of policy and programs at US SIF, told Bloomberg.

McGannon argued that the DOL should clarify that the ESG criteria is pecuniary and should re-write the rule to allow sustainable investments in default plans as Qualified Default Investment Alternatives.

When the so-called ESG rule was implemented by the DOL, it was meet with widespread opposition in the investment community. Many argued that it would take away important options from retirement investors and deny them access to strategies that mitigate ESG risks.

“In fact, rather than avoiding ESG analysis, we believe that 401(k) plan investment committees should have an obligation to consider ESG risk. Doing so is fundamental to evaluating the long-term performance of an investment,” according to Aron Szapiro, head of policy research for Morningstar.

“For instance, firms without a plan to cope with climate change may be caught flat-footed in the face of new regulation or environmental realities. And beyond being an issue of investor preference, human capital management is a financially material concern given the reputational and regulatory risks that companies face if they have poor labor relations. Many large asset managers already integrate ESG factors into their analysis for exactly this reason,” Szapiro added.

For more news, information, and strategy, visit the ESG Channel.

usscmc

usscmc

No Result
View All Result

Recent Posts

  • US Ports: Gateways to Global Trade
  • Ports of Prosperity: How US Ports Rule the Global Trade Game
  • Sustainable Supply Chain Practices in the US
  • Challenges Facing the American Trucking Industry
  • The American Warehouse Revolution: The Role of Automation in US Warehouses

Recent Comments

  • Top 5 Supply Chain Certifications that are in high demand | Top 5 Certifications on Top 5 Globally Recognized Supply Chain Certifications
  • 3 Best Procurement Certifications that are most valuable | Procurement Newz on Top 5 Globally Recognized Supply Chain Certifications

Archives

  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • September 2019

Categories

  • Global News
  • Supply Chain Updates

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

slot gacor slot slot gacor 2023 slot 2023 slot gacor terbaru slot gacor terpercaya slot gacor slot gacor slot slot gacor 2023 slot 2023 slot gacor terbaru slot gacor terpercaya slot gacor slot gacor slot slot gacor 2023 slot 2023 slot gacor terbaru slot gacor terpercaya slot gacor

Pages

  • Home
  • Terms of Use
  • Privacy Policy
  • Disclaimer
  • Antispam
  • Contact Us

Categories

  • Global News
  • Supply Chain Updates
slot gacor slot slot gacor 2023 slot 2023 slot gacor terbaru slot gacor terpercaya slot gacor slot gacor slot slot gacor 2023 slot 2023 slot gacor terbaru slot gacor terpercaya slot gacor slot gacor slot slot gacor 2023 slot 2023 slot gacor terbaru slot gacor terpercaya slot gacor

Tags

APICS E-commerce Boom and Its Disruptive Impact on US Logistics ecommerce Globally Recognized Supply Chain Certifications IIPMR Certifications International Institute for Procurement and Market Research (IIPMR) ISM logistics Next Level Purchasing procurement Supply Chain Supply Chain Industry supply chain industry in usa The changing landscape of Supply Chain Industry and how companies need to ride the tide Top 5 Supply Chain Certifications top supply chain certifications USA US Ports and Their Role in Global Trade US Supply Chain Industry warehousing

Trending

No Content Available
  • Antispam
  • Contact Us
  • Disclaimer
  • Home
  • Privacy Policy
  • Terms of Use

© 2023 www.usscmc.com

No Result
View All Result
  • Home
  • Supply Chain Updates
  • Global News
  • Contact Us

© 2023 www.usscmc.com

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.

SAVE & ACCEPT