Trump calls for new scrutiny of environmentally conscious investments in 401(k)s
President Donald Trump has called for a sweeping look at regulation of the energy industry — and that includes investments in retirement plans.
The Department of Labor has 180 days to complete its analysis, per Trump's executive order. DOL officials did not respond to CNBC's request for comment. Guidance released by the Department of Labor last year called for all funds, regardless of their strategy, to be evaluated equally by performance when deciding whether or not to include them in retirement plans. That marked a change from President Barack Obama's administration, which mostly encouraged the inclusion of ESG funds in retirement plans.
The appetite for these kinds of funds in 401s and other retirement plans is strong, according to a recent survey from Natixis Investment Managers. It found that 61% of workers would increase their retirement savings if socially conscious investments were available to them. Yet only 13% of workers surveyed had access to such investments in their plans.
Ultimately, the Department of Labor's analysis could lead to stronger statements on ESG or more tweaking to the policies on these kinds of investments in retirement plans, Levine said.Workers want those hard-to-find socially responsible investments in their 401 plans: SurveyThis app lets you invest responsibly so you can save the planet and make money
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