June 24, 2020

Kim Jones Discusses DOL’s New Guidance on ESGs

Bloomberg Law

Bloomberg Law reports that the Trump administration’s proposal to require retirement plans to justify their investment in environmental, social, and corporate governance funds could lead to breach-of-fiduciary-duty cases piling up in courts. In the article “Legal Battles Likely Over Trump’s ESG Crackdown, Advisers Say,” the legal industry publication turned to employee benefits & executive compensation partner Kim Jones for insight into the Department of Labor’s recent guidance mandating that plan sponsors fully document their reasoning in pursuing Environmental, Social, and Governance (ESG) options.

Jones told Bloomberg Law that this new guidance would mean spelling out the “proper analysis and evaluation” involved.

“Fiduciaries are now on notice that ESG investments will be scrutinized if selected,” she added.

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