The Labor Department issued a rule in October, during the Trump administration, that experts say would curb use of ESG funds in 401(k) plans.
Money managers and other stakeholders are pushing the Biden administration to scrap the rule or agree not to enforce it, according to a report in The Wall Street Journal.
Investor demand for ESG funds has grown significantly. 401(k) plans represent a big untapped growth source.
Author(s): Greg Iacurci
Publication Date: 4 March 2021
Publication Site: CNBC