Just weeks before the US Department of Labour (DOL) proposed to limit pension funds’ ability to invest in ESG-focused funds, rattling the responsible investment industry globally, the Tipping Point Fund on Impact Investing (TPF) announced new grants to help organisations develop public policy on issues like fiduciary duty and ESG.

The matter has been a “political football” for years, says Fran Seegull, Project Director for the TPF and the Executive Director of the US Impact Investing Alliance. She says the recent DOL announcement reflects the need for a better understanding amongst policymakers and regulators about ESG and impact investing.

The TPF’s grantmaking on fiduciary duty and ESG came, fortuitously, at a crucial time for the topic, as many now seek to challenge the DOL announcement. However, it is no coincidence that the TPF has given out grants for policy work in the run up to the US presidential election in November.