PLANADVISER - November/December 2021 - 12
trends
The news that drives the retirement
plan adviser industry
An ESG Framework Here to Stay?
The DOL's proposed
rule on ESG
investing supports
broader use of
green options in
retirement plans
and removes
barriers put in
place by the prior
administration.
THE Department of Labor (DOL) has
announced a proposed rule that would
remove barriers to plan fiduciaries' ability
to consider climate change and other environmental,
social and governance (ESG)
factors when they select investments and
exercise shareholder rights.
Aptly titled " Prudence and Loyalty in
Selecting Plan Investments and Exercising
Shareholder Rights, " the proposal spans
109 pages, the early consensus being that
the rule should facilitate broader use of ESG
factors by investors who have long been
calling for such an expansion. (See page 16
for the proxy voting side of the proposal.)
Greater Clarity
John Hoeppner, head of U.S. stewardship
and sustainable investments, Legal &
General Investment Management America,
says he had anticipated that the DOL would
provide some clarifying language about the
reasonability of ESG-integrated options,
but he was " delighted and surprised " to see
that the rule specifically calls out the use
of ESG factors within investment options
serving as a retirement plan's qualified
default investment alternative (QDIA).
" The signaling impact of this decision
is enormous, in my opinion, " Hoeppner
says, noting that his organization was
" quite concerned " about the ESG and proxy
voting rules that had been implemented
late in the Trump administration. In
Hoeppner's view, those rules were overly
restrictive and seemed to be tied to a more
antiquated perspective on the purpose
and technical aspects of ESG investing.
" In terms of the comment period and
the final rule, I expect this package could
12 | planadviser.com November-December 2021 Art by Scott Bakal
http://www.planadviser.com
PLANADVISER - November/December 2021
Table of Contents for the Digital Edition of PLANADVISER - November/December 2021
A Shift in the Tech Landscape
Strength in Diversity
Future Faces
A Workforce in Flux
Fee Models Are Shifting
Nonenforcement Policies
‘Window’ of Opportunity
PLANADVISER - November/December 2021 - Cover1
PLANADVISER - November/December 2021 - Cover2
PLANADVISER - November/December 2021 - 1
PLANADVISER - November/December 2021 - 2
PLANADVISER - November/December 2021 - 3
PLANADVISER - November/December 2021 - 4
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PLANADVISER - November/December 2021 - 12
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PLANADVISER - November/December 2021 - 14
PLANADVISER - November/December 2021 - 15
PLANADVISER - November/December 2021 - 16
PLANADVISER - November/December 2021 - 17
PLANADVISER - November/December 2021 - A Shift in the Tech Landscape
PLANADVISER - November/December 2021 - 19
PLANADVISER - November/December 2021 - 20
PLANADVISER - November/December 2021 - 21
PLANADVISER - November/December 2021 - 22
PLANADVISER - November/December 2021 - 23
PLANADVISER - November/December 2021 - Strength in Diversity
PLANADVISER - November/December 2021 - 25
PLANADVISER - November/December 2021 - 26
PLANADVISER - November/December 2021 - 27
PLANADVISER - November/December 2021 - 28
PLANADVISER - November/December 2021 - 29
PLANADVISER - November/December 2021 - Future Faces
PLANADVISER - November/December 2021 - 31
PLANADVISER - November/December 2021 - 32
PLANADVISER - November/December 2021 - 33
PLANADVISER - November/December 2021 - A Workforce in Flux
PLANADVISER - November/December 2021 - 35
PLANADVISER - November/December 2021 - Fee Models Are Shifting
PLANADVISER - November/December 2021 - 37
PLANADVISER - November/December 2021 - Nonenforcement Policies
PLANADVISER - November/December 2021 - ‘Window’ of Opportunity
PLANADVISER - November/December 2021 - 40
PLANADVISER - November/December 2021 - Cover3
PLANADVISER - November/December 2021 - Cover4
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