More retirement savers could soon have the option to invest in funds based on environmental, social and governance principles, under final regulations issued by the Labor Department
on Tuesday.
Lisa Gomez, assistant secretary for the Labor Department’s Employee Benefits Security Administration, said regulators heard from 401 plan sponsors and others in the retirement industry that the Trump-era regulation “had a chilling effect on being able to consider climate change and other ESG factors in making decisions” about investment offerings.
Demand for such investments in 401 plans is likely to grow, especially from younger workers, industry observers said.
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