Workers want those elusive socially responsible investments in their 401(k) plans: Survey
If you're looking in your 401 plan for investments that back clean energy or gender and racial diversity, you may have a tough time finding them.
At the same time, just 13% of workers surveyed said they have access to environmental, social and governance, or ESG, investments in their workplace retirement plan.Leonardo DiCaprio is investing in greener way to save, spendThat level of access to socially-conscious investments is"not good enough," according to Edward Farrington, executive vice president at Natixis Investment Managers.
Aaron Pottichen, senior vice president at Alliant Retirement Consulting, said his firm offers an index fund from Calvert Investments that screens investments based on ESG criteria. Under President Barack Obama, plan providers more or less got the green light to include ESG funds in their lineups. The guidance under President Donald Trump's administration, however, was more or less a caution sign to the industry.
"I think it did make some other firms that were thinking about this space hesitate a bit, thinking 'OK, what is the message here?'" Farrington said.
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