New Standards Enable Retirement Managers to Better Protect People’s Retirement Savings, Including from Climate-Related Financial Risk
(Washington, D.C. – November 22, 2022) The U.S. Department of Labor today finalized standards that will help retirement fund managers better protect people’s retirement savings from all types of financial risks, including those related to climate change.
“Climate change poses a serious and growing threat to our economy and financial systems,” said EDF climate risk and financial regulations attorney Stephanie Jones. “The standards finalized today restore a longstanding regulatory framework that retirement fund managers can use to protect Americans’ financial futures, and they reaffirm that those managers can consider all risks – including climate-related risks – when making investment decisions. That will help retirement fund managers make the best possible decisions when investing our money.”
The standards are called Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights. They received widespread support from the public and from a range of experts – including EDF – when they were proposed last year
With more than 3 million members, Environmental Defense Fund creates transformational solutions to the most serious environmental problems. To do so, EDF links science, economics, law, and innovative private-sector partnerships to turn solutions into action. edf.org
Media Contact
Latest press releases
-
Trump Administration Issues Another Mandate to Extend Expensive, Polluting Michigan Coal Plant Past Retirement
August 21, 2025 -
Memo: New Polling Shows Zeldin Approval Collapse
August 21, 2025 -
EDF Experts Join Hundreds of Americans at Virtual Forum, “Vigorously” Oppose Trump EPA Attacks on Endangerment Finding, Clean Car and Truck Standards
August 20, 2025 -
California Agencies Submit Report to Governor, Outline Actions to Accelerate Clean, Affordable Vehicles
August 19, 2025 -
Extension of California’s Cap-and-Trade Program Takes Encouraging Step Forward
August 19, 2025 -
Groups Ask Court to Block Trump EPA Rule That Delays Protections Against Oil and Gas Methane Pollution
August 18, 2025