Pension funds should be getting a lot more ethical, if they follow the rules. According to Stuart Kaplow, the U.S. Labor Department recently released an interpretive bulletin outlining the investment duties of pension plans. He says that they are now required to take environmental, social and governance factors into account before handing over the cash.
“It is significant that the federal government is telling pension plans what criteria to use when selecting investments, including taking into account climate change and other environmental factors,” says Kaplow. And with over $9 trillion invested in U.S. pensions, the guidance could have a big impact.
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