DailyBusinessNews.com

December 2, 2022

The Biden administration is making it easier for money managers to consider climate change and other environmental and social factors in retirement investments. 

Assistant Secretary for Employee Benefits Security Lisa Gomez said in a statement that the rule was issued to end a “chilling effect” created by Trump-era restrictions on considering environmental and social factors in investing. 

 “Climate change and other environmental, social and governance factors can be useful for plan investors as they make decisions about how to best grow and protect the retirement savings of America’s workers,” Gomez said. 

Meanwhile, environmental activists have pushed for financial institutions to drop fossil fuels from their portfolios. 

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