The DOL ESG Proposed Rule is Out, Now What?

Watch the presentation >>  |  View the slides

Tuesday, October 26, 2021
12:00 PM - 01:00 PM Eastern Daylight Time
11:00 AM - 12:00 PM Central Daylight Time
09:00 AM - 10:00 AM Pacific Daylight Time

After many months of waiting, the US Department of Labor (DOL) has issued a proposed regulation revising earlier DOL guidance on whether and how ERISA fiduciaries may consider ESG factors in investment decision making and proxy voting.

The DOL’s proposed rulemaking follows nearly twenty-five years of DOL back and forth on the question of whether, and how, ERISA plans fiduciaries can apply ESG in accordance with their ERISA fiduciaries.  Most recently, in 2020, the DOL released a final regulation titled “Financial Factors in Selecting Plan Investments” (the “ESG Rule”) that imposed new standards related to the use of ESG by ERISA plans (as well as a companion rule on proxy voting).

This spring, the White House mandated that the DOL reevaluate both rules and at last, the DOL has issued its new proposed rule on ESG and proxy voting.

This presentation will cover the new proposal and what might come next for ERISA fiduciaries and asset managers grappling with ESG usage.

CLE credit: CLE credit in CA, CT, FL, IL, NJ (via reciprocity), NY, PA, TX, and VA is currently pending approval.