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0 0 0.00635204717825337 0.00635204717825337 -4.88995163854063E-06 -4.88995163854063E-06 0.00439606652290209 0.0168654432007667
Stock impact report

Top fund firms oppose planned U.S. roadblock to green retirement funds [Reuters]

Franklin Resources, Inc (BEN)  More Company Research Source: Reuters
Last franklin resources, inc earnings: 4/30 08:30 am Check Earnings Report
PDF Top fund firms oppose planned U.S. roadblock to green retirement funds BOSTON, July 31 (Reuters) - Top asset managers including Vanguard Group, State Street Corp and Franklin Resources have urged the Trump administration to reconsider proposed investment rules that would make it harder for retirement plans to use socially focused funds like those that invest in renewable energy. Letters to the U.S. Labor Department from firms with assets approaching $10 trillion show how the finance industry has embraced causes once seen as distractions. Representatives of the firms showed the letters to Reuters on Thursday. The department in June had proposed requiring retirement plan administrators to pick investments only on financial considerations. It would bar them from using funds or vehicles focused on environmental, social or governance (ESG) criteria where the goal is to “subordinate return or increase risk for the purpose of non-financial objectives,” as officials put it in a press release. [Read more]
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