In Energy Intelligence, Josh Lichtenstein Examines U.S. Election Impact on Federal and State ESG Landscape

In The News
October 25, 2024

In an Energy Intelligence article, ERISA and benefits partner Josh Lichtenstein discussed how the outcome of the U.S. elections could impact environmental, social and governance (ESG) policies at the state and federal level.

Josh notes that should Republican Party candidate and former President Donald Trump win the Nov. 5 election, a rewrite to Department of Labor rules governing ESG investment in private pension plans would be all but certain.

At issue is a decision by the Biden administration’s Labor Department that reversed a Trump administration rule designed to restrict the extent to which private companies could consider ESG and climate factors in selecting retirement investments.

An effort to scale back Securities and Exchange Commission (SEC) climate disclosure rules could also happen, depending on the makeup of the commission. In 2022, the SEC finalized rules requiring companies to report a minimum set of climate risk factors, but this has temporarily paused enforcement pending resolution of legal challenges.