“The May 28, 2025 letter said that the DOL will engage in a new rulemaking, which will appear on the DOL’s Spring Regulatory Agenda. No other details were provided. It remains to be seen whether the DOL will revert back to some variation of the ESG-skeptical/pecuniary-factors analysis that the Trump administration adopted in 2020 (or perhaps something even more explicitly antagonistic toward ESG).”

[COMMENTARY] So it still seems we are in a waiting period to see the full extent of the US Department of Labor’s ‘guidelines’ concerning fiduciaries’ handling of ESG-related assets.
Trump DOL Withdraws Biden-Era ESG Rule and Crypto Guidance for ERISA Plans, by Joshua Lichtenstein, Sharon Remmer, and Jonathan Reinstein, June 19, 2025, Harvard Law School Forum on Corporate Governance, USA.