You have a fiduciary duty to your clients. Period.
But is it counter to your fiduciary duty to consider environmental, social, or governance factors? A frequent refrain say, “Yes, it is counter to your duty to consider anything except financial return!”
In new interpretive guidance, the Department of Labor (DOL) soundly rejects that argument with regard to pension investments. The new guidance, issued effective October 26, 2015, actually rescinded guidance issued in early 2008 as the Bush Administration wound down, restoring the essence of guidance from 1994.