Bill Myers

President Trump's Department of Labor has instituted new rules that many see as a blow to the growing environmental, social and governance investment models.

The Department of Labor has quietly updated ERISA rules to require private pension plan fiduciaries to put financial returns ahead of sustainable goals in investing, a last-minute blow to so-called ESG investing. “The Department has construed the requirements that a fiduciary act solely in the interest of, and for the exclusive purpose of providing benefits […]

Investment advisers have (mostly) panned the Department of Labor's proposed efforts to rein in sustainable investment, sometimes called ESG investing.