‘Another piece of political jiggery-pokery’: US wants investors to vote only for ‘economic impact’

Department of Labour proposal may face barrage of criticism for suggesting ESG is not financially material

The US Department of Labour (DOL) has said it expects trustees and their fiduciaries to vote only on matters that have an “economic impact” on the pension plans covered by the Employee Retirement Income Security Act (ERISA).

The proposed rule implements an April 2019 executive ord…

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