Biden team to review Labor Department ESG rule
The Biden administration will review a recent Department of Labor rule stipulating that ERISA plan fiduciaries cannot invest in "non-pecuniary" vehicles that sacrifice investment returns or take on additional risk. In his first few hours in office Wednesday, President Joe Biden signed a flurry of executive orders, including one titled "Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis." In the order, Mr. Biden directed all executive departments and agencies "to immediately review and, [...]