Author: James McAllister

  • Missouri withdraws appeal in ESG lawsuit

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    Missouri Attorney General Andrew Bailey (R) announced the state will withdraw its appeal of a court ruling overturning two anti-ESG investment rules. The rules would have penalized asset managers who invested based on ESG factors without the written consent of their clients. The withdrawal leaves the constitutional question for similar rules unsettled in U.S. courts.…

  • U.S. House passes two bills opposing ESG

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    The House of Representatives passed two bills opposing ESG on Sept. 18 and Sept. 19. HR 5339 would require fiduciaries to make investment decisions based on financial factors. HR 4790 proposed limiting the Securities and Exchange Commission’s (SEC) climate risk disclosure requirements. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance…

  • State treasurers argue corporations should focus on shareholder value

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    A group of Republican state treasurers sent a letter on Aug. 28 asking the Business Roundtable to change its 2019 statement defining the purpose of corporations. The treasurers argued the definition deprioritized shareholder interests in profit and risk management and promoted ESG investing. Ballotpedia tracks support for and opposition to the environmental, social, and corporate…

  • Indiana Secretary of State issues cease-and-desist order against BlackRock

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    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,…

  • Court blocks Missouri anti-ESG rules

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    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…

  • SEC files brief defending climate rule

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    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…

  • House Republicans argue against ESG in financial services report

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    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…

  • Companies prepare for global climate reporting standards

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    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…