PLANADVISER, in a recent article entitled, “The Best Case for ESG Under ERISA Is Long-Term,” highlighted our recent analysis that says that we think ESG issues will confront fiduciaries for the long term and that terminology of the myriad ESG factors remains a challenge. We also note that ESG has evolved and “is much more driven by data linking one or more ESG factors and investment performance—an ESG factor can now be a material risk.”
George Michael Gerstein advises financial institutions on the fiduciary and prohibited transaction provisions of ERISA. As co-chair of the fiduciary governance group, he assists clients with tracking, and understanding, the numerous fiduciary developments at the federal and state levels, including the rules and regulations of governmental plans. He also advises clients with respect to the fiduciary duty implications of ESG investing.