Due to immense, and growing, political and legal opposition, those seeking to build pipelines are increasingly finding them more trouble than they’re worth.
US Dept. of Labor Proposes Rules to Hinder ESG Investment
On June 23, 2020, the US Department of Labor proposed regulations to prohibit private industry pension plans, governed under the Employee Retirement Income Security Act (ERISA), from investing in ESG investment vehicles if doing so would prioritize non-financial objectives over purely financial ones (i.e., increasing returns for plan beneficiaries).