DOL Finalizes Anti-ESG Rule

Statement from Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE):

“The Department of Labor announced its final rule on Financial Factors in Selecting Plan Investments after only 16 days of review, on a Friday afternoon, in the face of overwhelming public opposition. The rule itself contains no actual evidence of harm to any ERISA beneficiaries or plan participants, and explicitly affirms that Environmental, Social and Governance (ESG) considerations can be very much material to financial performance. Nevertheless, the Department persists in substituting its own preferences for the seasoned judgment of investment professionals in a transparent attempt to slow the growth of ESG investing. Over the long run, it won’t work. ESG investing is popular precisely because it drives superior investment performance. Rule or no rule, ESG investing is here to stay.”

ACORE forcefully pushed back on this proposal in July. To read our submitted comments on this rule, click here. Additionally, earlier this month, ACORE filed comments challenging a second attempt by the Labor Department to slow down ESG investing. To read more on that proposal, click here.


About ACORE:
Founded in 2001, the American Council on Renewable Energy (ACORE) is the nation’s premier pan-renewable organization uniting finance, policy and technology to accelerate the transition to a renewable energy economy. For more information, please visit

Media Contact:
Alex Hobson, Vice President of Communications, ACORE | 202.777.7584 (o) | 202.594.0706 (c)