Gustavo Bernal Torres
ERISA Rule to Curb Sustainable Investing by Pension Funds
U.S. Labor Department finalizes rule on The Employee Retirement Income Security Act of 1974 (ERISA)-
The U.S. Department of Labor on Friday finalized a rule clarifying that pension fund managers must put retirees’ financial interests first when allocating investments, rather than other concerns such as climate change or racial justice.
ImpactAlpha reports: "The rule drew more than 8,700 comments in a shortened 30-day comment period, with more than 95% opposing it, including all but one of 86 asset managers who filed comments."