The Department of Labor may soon reverse Trump-era rules that curbed the ability of retirement plans to offer environmental, social, and governance funds. The department’s newly proposed regulation would also permit retirement plan sponsors and fiduciaries to consider so-called ESG factors when exercising shareholder rights.
The Trump-era rules, enacted shortly before the former president left office, obligated plan fiduciaries to only consider pecuniary, or financial, factors when making decisions. It also added new documentation...