The executive order requests that the labor secretary submit within 180 days a report that identifies actions taken by the agency to protect life savings and pensions of U.S. workers and families from climate-related financial risk. (Image by Chris Nicholls)
President Joe Biden has issued an executive order that among other things directs the secretary of labor "to consider publishing by Sept. 2021" proposed rules to suspend, revise or rescind agency rules that limited investments focused on environmental, social or governance (ESG) factors in retirement plan accounts and limited plan fiduciaries from voting in favor of climate-related shareholder proposals.
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