DOL Proposed ESG Restrictions on ERISA-regulated retirement plans

The American Sustainable Business Council has gathered a set of resources supporting the idea that the US Department of Labor’s proposed restriction of factoring ESG considerations in ERISA-regulated retirement plans is not acceptable. We believe fiduciaries should have the right to consider all material risk factors and should have access to fair and free competitive investment opportunities, including those that meet ESG criteria. 

RESOURCES:

• Funds’ Use of ESG Integration and Sustainable Investing Strategies – An Introduction (Investment Company Institute July 2020)
• Socially Responsible Investing Should be a Fiduciary Requirement (Green America 7-20-20)
• As You Sow: DOL Proposed Ruling Materials
• Additional Data for DOL Response Letters (Intentional Endowments Network)
• Trump administration seeks to turn back the ESG tide (Impact Alpha 7-14-20)
• DOL Proposes New Rules Regulating ESG Investments (Harvard Law School 7-7-20)
• The Department of Labor Attempts to Throttle ESG Investing (Morningstar 7-2-20)
• Alliance Urges DOL to Pause Disruptive Rulemaking on ESG in ERISA Regulations (U.S. Impact Investing Alliance 7-1-20)
• US SIF ERISA – ESG Rulemaking Toolkit (US | SIF 7-1-20)
• U.S. DEPARTMENT OF LABOR PROPOSES NEW INVESTMENT DUTIES RULE (6-23-20)
• U.S. Impact Investing Alliance Review of ESG Literature
• ESG and financial performance: aggregated evidence from more than 2000 empirical studies
• Literature Review on Environmental, Social and Governance (ESG) Factors as Financially Material. In response US DOL’s proposed rule – RIN 1210-AB95 | July 2020
• The proposed DOL ruling on ESG investments in Defined Contribution plans
• Comment Letter on Proposed Regulation of ESG Standard in ERISA Plans from Harvard Law School Forum on Corporate Governance
• CFA Institute: Positions on Environmental, Social, and Governance Integration