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Updates on ESG Regulation and Northwestern Litigation
Qualified Plan Advisors [QPA]
[Guidance Overview] Apr. 5, 2023 "[M]uch of the final regulation should not be controversial. It recites commonly accepted fiduciary principles relating to the two core responsibilities included in the regulation's title: prudence and loyalty. The entire regulation references 'ESG' only one time, and that reference is limited to the permissible consideration of the economic effects of ESG factors. However, Congress, the Attorneys General for 25 states, and a number of private companies have given fiduciaries reason to pause. At this stage, fiduciaries are well-served to stick to the traditional fiduciary principles recited within the regulation" |
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