11.04.25

GOP Takes Aim Anew at ESG in Retirement Investing

by: James Van Bramer

Amid the ongoing government shutdown, debate over environmental, social and governance (ESG) investing continues. On Oct. 31, Senator Bill Cassidy (R-La.), chair of the Senate HELP Committee, reintroduced the Restoring Integrity in Fiduciary Duty Act, which would reinstate a Trump-era rule requiring fiduciaries of ERISA retirement plans to consider only financial (“pecuniary”) factors when making investment decisions. The bill rejects ESG considerations and mandates “random choices” when options are identical. Meanwhile, Senator Jim Banks (R-Ind.) proposed the Providing Complete Information to Retirement Investors Act, requiring clearer disclosures about non-fiduciary investment options in retirement plans.

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