ACORE Commends DOL Proposal to Return to Commonsense ESG Investing Rules

 

October 13, 2021

ACORE Commends DOL Proposal to Return to Commonsense ESG Investing Rules

WASHINGTON, D.C. — The U.S. Department of Labor (DOL) has released its proposed rule to remove the barriers imposed by the Trump administration that were intended to slow the growth of Environmental, Social and Governance (ESG) investing. Following is a statement from Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE):

 

“We welcome the Labor Department’s proposal to reverse these misguided and unpopular policies. These Trump-era rules were intentionally designed to override the free market and hamstring ESG investing, one of the nation’s fastest-growing finance trends. As today’s proposal makes clear, ESG considerations are financially material, which is why sustainability investments are often recognized as the best choice for realizing maximum long-term returns. We look forward to reviewing the full scope of the proposed rule and engaging Labor officials through the comment period to ensure that the final rule supports and enhances the growing nationwide trend of ESG investment.”

 

Background:

ACORE forcefully pushed back on these two rules in 2020. To read our submitted comments on the Financial Factors in Selecting Plan Investments rule, click here. To read our submitted comments on the Fiduciary Duties Regarding Proxy Voting and Shareholder Rights rule, click here.

 

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About ACORE:
For more than 20 years, the American Council on Renewable Energy (ACORE) has been the nation’s premier pan-renewable nonprofit organization. ACORE unites finance, policy and technology to accelerate the transition to a renewable energy economy. For more information, please visit www.acore.org.

Media Contacts:

Alex Hobson
Vice President of Communications
American Council on Renewable Energy
hobson@acore.org | 202.777.7584 (o) | 202.594.0706 (c)

Blake McCarren
Communications Manager
American Council on Renewable Energy
mccarren@acore.org | 301.661.7375 (c)

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