PLANSPONSOR - October-November 2022 - 34

INVESTMENTS | ESG
Participant ESG Demands
Will more plan sponsors be forced to act?
T
his spring, the Securities and
Exchange Commission made public
two denials it had made to companies
requesting the right to exclude, from
their annual proxy voting statements, a
proposal that they evaluate their environmental,
social and governance principles
against their actual practices-i.e., those
of their retirement plans.
According to two attorneys at law firm
Seyfarth Shaw LLP in Chicago, a shareholder
asked that the board of directors
of one of the companies review its plan's
investment options for
their alignment
with the company's stated climate action
goals. The shareholder said every investment
on the plan menu, including the
default, contained companies in businesses
34 PLANSPONSOR.COM October - November 2022
related to fossil fuels or deforestation risk.
The shareholder also said there were a
limited number of funds to choose from
that were screened for environmental and
social impact, according to the attorneys.
It is unclear who is behind the proxy
vote request upheld by the SEC. But the
move does raise a question: Will retirement
plans increasingly become a battleground
for socially conscious investing efforts?
Recent studies about the concerns
of Millennial and Generation Z investors
indicate that they worry about retirement
and also care deeply about investing their
money according to ESG principles. Given
that these cohorts will eventually hold
vast amounts of investable assets-much
of it inherited from Baby Boomers-their
Art by Gizem Vural
attitudes will likely have considerable
influence. Meanwhile, anecdotal evidence
suggests that members of these generations
are becoming more vocal about
having the option to make ESG investments
inside their retirement plan, given
the tax advantages those plans offer.
In Nuveen's Sixth Annual Responsible
Investing Survey - 2021, 96% of Millennial
investors agreed with the statement " It is
important to me that my asset managers
are knowledgeable about responsible
investing. " Additionally, 94% agreed that
they " would be more comfortable working
with an asset manager that had experience
in responsible investing. " Among all investors,
not just Millennials, 63% " agree[d]
that their financial adviser could do much
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PLANSPONSOR - October-November 2022

Table of Contents for the Digital Edition of PLANSPONSOR - October-November 2022

INSIGHTS
INDUSTRY ANALYSIS
RULES & REGULATIONS
UPFRONT
Deep Dive
Managing Volatility
New Solutions
Participant ESG Demands
Good Practices
FIDUCIARY FORUM
INSIDE ANGLE
PLAN PROFILE
PLANSPONSOR - October-November 2022 - Cover1
PLANSPONSOR - October-November 2022 - Cover2
PLANSPONSOR - October-November 2022 - 1
PLANSPONSOR - October-November 2022 - INSIGHTS
PLANSPONSOR - October-November 2022 - 3
PLANSPONSOR - October-November 2022 - RULES & REGULATIONS
PLANSPONSOR - October-November 2022 - 5
PLANSPONSOR - October-November 2022 - 6
PLANSPONSOR - October-November 2022 - 7
PLANSPONSOR - October-November 2022 - 8
PLANSPONSOR - October-November 2022 - 9
PLANSPONSOR - October-November 2022 - UPFRONT
PLANSPONSOR - October-November 2022 - 11
PLANSPONSOR - October-November 2022 - 12
PLANSPONSOR - October-November 2022 - 13
PLANSPONSOR - October-November 2022 - 14
PLANSPONSOR - October-November 2022 - 15
PLANSPONSOR - October-November 2022 - Deep Dive
PLANSPONSOR - October-November 2022 - 17
PLANSPONSOR - October-November 2022 - 18
PLANSPONSOR - October-November 2022 - 19
PLANSPONSOR - October-November 2022 - 20
PLANSPONSOR - October-November 2022 - 21
PLANSPONSOR - October-November 2022 - 22
PLANSPONSOR - October-November 2022 - 23
PLANSPONSOR - October-November 2022 - 24
PLANSPONSOR - October-November 2022 - 25
PLANSPONSOR - October-November 2022 - Managing Volatility
PLANSPONSOR - October-November 2022 - 27
PLANSPONSOR - October-November 2022 - 28
PLANSPONSOR - October-November 2022 - 29
PLANSPONSOR - October-November 2022 - New Solutions
PLANSPONSOR - October-November 2022 - 31
PLANSPONSOR - October-November 2022 - 32
PLANSPONSOR - October-November 2022 - 33
PLANSPONSOR - October-November 2022 - Participant ESG Demands
PLANSPONSOR - October-November 2022 - 35
PLANSPONSOR - October-November 2022 - Good Practices
PLANSPONSOR - October-November 2022 - 37
PLANSPONSOR - October-November 2022 - FIDUCIARY FORUM
PLANSPONSOR - October-November 2022 - INSIDE ANGLE
PLANSPONSOR - October-November 2022 - PLAN PROFILE
PLANSPONSOR - October-November 2022 - Cover3
PLANSPONSOR - October-November 2022 - Cover4
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