Biden administration loosens Trump-era investing rules around environment, social and governance funds in 401(k) plans
; they may, for example, funnel investor money into wind and solar firms, companies with diverse board members or steer away from companies involved in fossil fuels.
ESG funds have grown more popular in recent years. Investors poured $69.2 billion into them in 2021, an annual record, according to Morningstar. Uptake in 401 plansThe Inflation Reduction Act is expected to bolster overall popularity.
and other ESG considerations" when making investment choices — something Lisa Gomez, assistant secretary of labor for the Employee Benefits Security Administration, called "common sense."watch now
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