Author: James McAllister
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Indiana Secretary of State issues cease-and-desist order against BlackRock
Indiana Secretary of State Diego Morales (R) announced his office issued a cease-and-desist order Aug. 22 against BlackRock, arguing the asset manager misled investors and used non-ESG funds to promote ESG goals. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against,…
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Court blocks Missouri anti-ESG rules
A federal court last week threw out two 2023 Missouri rules that limited ESG in investment plans. The court argued the rules conflicted with federal law. 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, click here. For…
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SEC files brief defending climate rule
The Securities and Exchange Commission submitted a brief to the U.S. Eighth Circuit Court of Appeals last week seeking to defend its rule requiring corporate climate disclosures. The agency argued environmental risks are relevant to investment decisions. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn…
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House Republicans argue against ESG in financial services report
The House Republican Environmental, Social, and Governance Working Group last week released a report on ESG. The report argued the Biden administration promoted ESG initiatives to advance environmental and social policies without congressional support. It also proposed anti-ESG policies related to proxy voting, shareholder proposals, ESG ratings, and other topics. Ballotpedia tracks support for and…
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Companies prepare for global climate reporting standards
The SEC has paused enforcement of its rule requiring corporate climate disclosures, but companies are still preparing to comply with ESG standards, especially from the European Union. Some companies are already starting to report ESG data in response to uncertainty over when regulations will become enforceable, according to a recent Fortune piece. Ballotpedia tracks support…
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Labor department ESG rule sent back to lower court for rehearing
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…
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House Appropriations Committee passes budget blocking ESG labor rule
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…
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Indiana treasurer adds BlackRock to state ESG watchlist
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…
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House Judiciary Committee report alleges organizations colluded to force ESG policies
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…
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House Judiciary Committee probes Glasgow Financial Alliance for Net Zero
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…