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closeup shot of sign in front of DOL building and part of the building Department of Labor headquarters (photo: Michael Scarcella/ALM Media)

Public comments have overwhelmingly opposed a proposed rule by the Department of Labor that would limit the use of investments that consider environmental, social, and corporate governance (ESG) issues in worker retirement plans subject to ERISA, according to a report published August 20.

The Notice of Proposed Rulemaking (NPRM), titled “Financial Factors in Selecting Plan Investments,” issued by the Dept of Labor Employee Benefits Security Administration on June 30, has become a matter of significant and growing interest to investors, retirement-plan participants, and beneficiaries.

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