Amsterdam, 29 June 2020 – Global Reporting Initiative (GRI) has responded to the US Department of Labor’s proposed changes to investment duties regulation, which indicate that environmental, social and governance (ESG) factors should not be considered by retirement plan fiduciaries.
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GRI has joined the US Forum for Sustainable and Responsible Investment in raising concerns that this move is not in the interests of investors or other stakeholders.
GRI's Reponse To US-DoL Investment Duties Regulation Changes
Tim Mohin, Chief Executive of GRI said:
“Integrating environmental, social and governance (ESG) factors in investor decision-making helps maximize long-term returns, reduces risk and aligns capital with sustainable business practices that benefit all stakeholders. In the US alone, there was a 38% growth in sustainable investing between 2016-2018. Market forces are calling for more not less disclosure on sustainability issues.
The GRI Standards are in wide use around the world and help companies disclose ESG information that support decisions that are in the best interest of investors and society. Therefore, the integration of ESG data into decision-making is core to fiduciaries’ duties of loyalty and prudence."
About GRI
The Global Reporting Initiative (GRI) is the independent international organization that helps businesses, governments and other organizations understand and communicate their impacts. The GRI Standards are the world’s most widely used for sustainability reporting.
