SVB, ESG and Biden’s ERISA Rule

2023-03-16 18:55:40

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The collapse of Silicon Valley Financial institution (SVB) occurred simply days after Congress handed the Braun-Barr decision, which overturns the Biden administration’s “Prudence and Loyalty” rule and its encouragement of environmental, social, and governance (ESG) investing by pension managers underneath the Worker Retirement Revenue Safety Act (ERISA). The timing might hardly be extra instructive. The Prudence and Loyalty rule, the White Home had lately argued in its protection, “displays what profitable market traders already know – there’s an in depth physique of proof that environmental, social,…