18 Nov 2020 Does the DOL have it wrong? How Pensions Can Satisfy Their Fiduciary Duty And Still Invest Responsibly
Posted at 16:25h in Blogs
Can you be a responsible investor and still live up to your duties as a fiduciary? Recent regulatory developments from the U.S. Department of Labor (DOL) would lead one to believe investors have to make a choice and if that choice involves non-pecuniary vehicles then such investments would be prohibited. The recent guidance gives financial risk and returns primacy over any other factors, such as ESG investing, and went so far as to recommend barring ESG considerations from investment decisions by pension funds. I believe the DOL has this wrong. Responsible investing strategies don’t need to come at a cost. We...