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Compass
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DOL Proposed Rule Urges Caution Regarding the Use of ESG Factors for ERISA Plans
Mayer Brown [Guidance Overview] June 30, 2020 "[T]he Proposal does not completely ban plans from making ESG investments. Yet it is likely to lead many plan fiduciaries to desist from making such investments or at least be sure that such investments are made solely for pecuniary reasons. While the Proposal technically still allows the consideration of collateral ESG benefits when deciding between two economically-indistinguishable investment options, the DOL expresses skepticism whether such an event is likely to occur and the Proposal would require careful documentation of any such conclusion." |
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