I don’t get the push for ESG

Ary Rosenbaum - The Rosenbaum Law Firm P.C.
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Ary Rosenbaum - The Rosenbaum Law Firm P.C.

While the Biden-led Department of Labor (DOL) has given the green light for environmental, social, and governance (ESG) funds within 401(k) plans, I don’t get the push.

The push isn’t from many plan sponsors and I don’t see many plan participants demanding it. To me, it seems more hype than anything else.

I’m not a fan of ESG funds because you have 3 ESG funds out there and you’ll have 4 different explanations on what it means to be ESG. In addition, an ESG fund to me is no different than a sector fund and I’m not a huge fan of sector funds within a 401(k) plan.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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