Labor Department Approves Investing Pensions in ‘Woke’ ESG-Only Funds

The U.S. Labor Department announced plans to allow pension fund managers to “consider climate change and other environmental, social and governance factors,” also known as ESG, when choosing investments. 

In an announcement about the final rule last week, the agency criticized the Trump administration, stating, “the department concluded that two rules issued in 2020 … unnecessarily restrained plan fiduciaries’ ability to weigh environmental, social and governance factors when choosing investments, even when those factors would benefit plan participants financially.”

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