(Reuters) Big changes may lie ahead for retirement investment stakeholders as the U.S. Department of Labor (DOL) continues to focus on the role that climate change, and other social and governance factors, may have in impacting retirement security under the Employee Retirement Income Security Act of 1974, as amended (ERISA).
In addition to proposing a rule in October 2021 that could open the door for ERISA plan fiduciaries to incorporate more environmental, social, and governance (ESG) investing, the agency also just released a request for information exploring whether it should go further in regulating the intersection of climate change and retirement savings. Plan fiduciaries and other stakeholders may be impacted by the ultimate rules and policy pronouncements that come from these actions.
Read more here.