Author: James McAllister
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Consumer group launches campaign opposing Duke Energy’s ESG policies
The consumer watchdog organization Consumers Research launched a campaign August 24, opposing the ESG policies in use by North Carolina’s Duke Energy. 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 more information on reform…
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House Judiciary Committee requests ESG documents from California pension system
House Judiciary Committee Chairman Jim Jordan (R-Ohio) requested documents late last year from the California Public Employees’ Retirement System (CalPERS), the largest public pension system in the country, and Ceres, a nonprofit group that advises CalPERS on environmental matters. The committee is seeking information about CalPERS’ ESG efforts and the effect they have had on…
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Lawmakers advance legislation on ESG investments in Florida and Kansas
The Florida House of Representatives passed House Bill 3 (HB 3) on March 24, prohibiting the consideration of environmental, social, and corporate governance (ESG) factors in public fund investments. The legislation requires fiduciaries to invest with the sole goal of maximizing returns based on financial factors. The state House voted 80-31 in favor of the…
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U.S. weekly unemployment insurance claims fall to 239,000
New applications for U.S. unemployment insurance benefits fell 11,000 for the week ending August 12 to a seasonally adjusted 239,000. The previous week’s figure was revised up by 2,000 to 250,000. The four-week moving average as of August 12 rose 2,750 from the previous week’s revised average to 234,250. The number of continuing unemployment insurance…
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Wall Street trade group sues Missouri over rules opposing ESG in private investments
The Securities Industry and Financial Markets Association (SIFMA) is suing the state of Missouri over its recently enacted rules requiring the disclosure of ESG considerations to private investors. SIFMA claims the state overstepped its authority. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about…
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U.S. weekly unemployment insurance claims rise to 248,000
New applications for U.S. unemployment insurance benefits rose 21,000 for the week ending August 5 to a seasonally adjusted 248,000. The previous week’s figure was unrevised. The four-week moving average as of August 5 rose 2,750 from the previous week’s unrevised average to 231,000. The number of continuing unemployment insurance claims, which refers to the…
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Wyoming state board pushes back against ESG
The Wyoming State Loan and Investment Board on August 2 enacted a new investment policy prohibiting ESG considerations in state investments. 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 more information on reform proposals…
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Wisconsin governor vetoes unemployment insurance changes
Wisconsin Gov. Tony Evers (D) on August 4 vetoed five bills related to unemployment insurance. The bills in the package included the following proposals: Broadening the definition of employment misconduct that would disqualify a fired person from claiming unemployment benefits. Requiring the Department of Workforce Development to create a process through which employers can disclose…
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BlackRock announces plans to allow investors to vote their own proxies
The Big Three passive asset management firms—BlackRock, State Street, and Vanguard—have been criticized for using investors’ money in pursuit of political goals. The firms use the funds that they invest on behalf of their clients and vote the proxies that, outside of a pooled index or mutual fund, investors would typically vote themselves. ESG critics…
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Arkansas laws opposing ESG take effect
Two new state laws in Arkansas creating an oversight committee to develop a list of companies using ESG in investment or boycott decisions go into effect on August 1. State and public entities “could no longer conduct business with the companies” on the list, according to The Center Square. Ballotpedia tracks support for and opposition…