Proposed New ERISA Rule and Sustainable Investing

Forbes contributor Bhakti Mirchandani details the US Department of Labor’s proposed rule clarifying the application of the fiduciary duties of prudence and exclusive purpose under ERISA to pension plan sustainable investments in the article titled How To Read The Proposed New ERISA Rule And What It Gets Wrong On Sustainable Investing.  She notes “the Secretary of Labor and more broadly the Department of Labor’s failure to acknowledge the causal link between long-term social and environmental issues and the retirement security of American workers is surprising. It’s even more surprising in the midst of a pandemic and on the eve of a climate crisis.”