Twelve AGs Supported Rule that Would Allow Climate Change to be a Factor in Retirement Investment Decisions

California Attorney General Rob Bonta led a coalition of twelve attorneys general in sending a letter in support of the Department of Labor’s (DOL) proposed rule that would explicitly allow fiduciaries of private-sector employee retirement plans to consider investments that are more sustainable and recognize factors, such as climate change and social impact, in making investment decisions. DOL’s rule would modify a current Trump-era rule that discourages plan fiduciaries from considering a broader set of factors, such as climate change, that could harm investments if not considered.

• Documents: CommentsCA Press Release
• Document Type: Comment Letters Press Releases/Statements
• States: California Connecticut Delaware Maryland Massachusetts Minnesota New Mexico New York North Carolina Oregon Vermont Washington, D.C.
• Agencies: Department of Labor
• Issues: Climate Finance
• Era: Biden Administration
• Action Type: Rulemaking & Other Federal Administrative Proceedings