Brad Campbell Discusses the ESG Investing Rule Replacement in Law360

Benefits and executive compensation partner Brad Campbell discussed with Law360 the Trump administration’s plan to replace Biden administration regulations on whether fiduciaries can consider issues like climate change and social justice when choosing retirement plan investments.

"People need to remember the fight over the ESG rule is ostensibly about ESG, but both the Trump and the Biden rule are actually governing the entirety of ERISA fiduciary investing. Neither regulation is just about ESG, it's actually about the test by which fiduciaries make all investment decisions," Campbell said.

Campbell added that he hopes to see changes to what the second Trump administration proposes on the ESG rule. 

"What I'm looking for in the new rule is less about ESG and more about regulatory clarity in what the standards are, and how you administer them," he said.

The full article is available to Law360 subscribers.