Author: James McAllister

  • Labor department ESG rule sent back to lower court for rehearing

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    The U.S. Court of Appeals for the Fifth Circuit ruled July 18 that the U.S. District Court for the Northern District of Texas must rehear the Republican attorneys general lawsuit opposing the Department of Labor’s 2022 rule allowing the use of ESG in ERISA-governed pension plans. The Fifth Circuit said the lower court needed to…

  • House Appropriations Committee passes budget blocking ESG labor rule

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    The House Appropriations Committee passed a fiscal year 2025 labor budget bill on July 10 that proposed prohibiting the Department of Labor from implementing its rule allowing ESG considerations in Employee Retirement Income Security Act (ERISA)-governed retirement plans. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To…

  • Indiana treasurer adds BlackRock to state ESG watchlist

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    Indiana Treasurer Daniel Elliott (R) announced June 21 that he added BlackRock, the world’s largest asset manager, to “a state watchlist, accusing the firm of making illegal environmental, social or governance (ESG) commitments,” according to the Indiana Capital Chronicle. The decision was related to a 2023 state law banning ESG in state pension investments. Ballotpedia…

  • House Judiciary Committee report alleges organizations colluded to force ESG policies

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    The House Judiciary Committee released an interim report on June 11 alleging that several organizations, investors, and asset managers colluded to force American corporations to adopt ESG policies. The report specifically referred to Ceres, Climate Action 100+, the Net Zero Asset Managers Initiative, the California Public Employees’ Retirement System (CalPERS), and the Big Three asset…

  • House Judiciary Committee probes Glasgow Financial Alliance for Net Zero

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    The House Judiciary Committee late last week interviewed at least two leaders of the Glasgow Financial Alliance for Net Zero (GFANZ), a global network of financial firms supporting ESG. The committee has also requested interviews with several other GFANZ officials and affiliated individuals, including billionaire and former New York City Mayor Michael Bloomberg. Ballotpedia tracks…

  • Largest state pension fund announces punitive action against ExxonMobil

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    The California Public Employees Retirement System (CalPERS), the largest public pension fund in the country, announced on May 21 that it has chosen to take action against ExxonMobil at the company’s May 29 annual shareholder meeting. Because of a lawsuit filed by Exxon against two small shareholders – Arjuna Capital and Follow This – CalPERS…

  • Congressional Democrats ask SEC to finalize ESG disclosure rule

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    Twenty-one congressional Democrats sent a letter to SEC Chairman Gary Gensler on May 13 requesting that the commission continue finalizing its rule requiring additional disclosures for self-identified ESG investment funds. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against, and about…

  • Oklahoma adds Barclays as restricted business

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    Oklahoma Treasurer Todd Russ (R) announced on May 3 that Barclays boycotted fossil fuel companies under the state’s legal definition and was therefore restricted in its ability to do business with the state. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for,…

  • U.S. ESG funds see record outflows

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    In the first quarter of 2024, U.S. investors removed nearly $9 billion of net capital from funds promoting ESG investing strategies. The move marked the largest ESG outflow recorded. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against, and about ESG,…