Michael Angelini Quoted in Worcester Telegram’s “What is ESG and what could it mean for your retirement savings?”

January 19, 2023

As the impacts of global warming become more noticeable, some financial experts anticipate more employees will want to put their retirements savings in investments that help the planet fight climate change. And a new rule by the U.S. Department of Labor, which takes effect January 30, allows plan fiduciaries to consider ESG – environmental, social and governance – when deciding where to invest retirement savings.

Providing fiduciaries with the option to consider ESG when making investment decisions is the result of an executive order signed by President Joe Biden in 2021. Before the new rule was established, fiduciaries were only required to consider financial performance when making investment decisions on behalf of beneficiaries and could be held legally and financially liable if they went beyond that parameter. Michael Angelini spoke with the Worcester Telegram about the rules:

Michael noted that the prior rule was established in 2020 during the Trump administration and said, “From my perspective… this (new rule) is good public policy and good financial policy.”

Continue reading “What is ESG and what could it mean for your retirement savings?” on the Worcester Telegram website (subscription required).