Author: Jon Dunn
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US warns EU it will act over corporate sustainability rules
The Trump administration sent a letter to the European Union (EU) in August 2026 saying that it "will take any actions necessary to address unreasonable burdens on US commerce" unless the EU further scales back two corporate sustainability laws. The letter identifies the Corporate Sustainability Reporting Directive (CSRD), which requires companies to disclose sustainability-related information,…
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SEC makes shareholder proposal no-action pause permanent
The Securities and Exchange Commission's (SEC) Division of Corporation Finance announced on Aug. 14, 2026, that it will permanently stop responding to no-action requests under Rule 14a-8. The rule governs when shareholders may place proposals on a company's proxy ballot and when companies may exclude them. No-action letters were nonbinding responses in which SEC staff…
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States introduced more than 500 bills preempting county land-use authority in 2025
In 2025, states introduced 511 bills that would preempt county authority over land use, including 138 bills that became law, according to the National Association of Counties (NACo). Lawmakers introduced these bills across 40 states and addressed housing, economic development, energy development, and other land-use policies. Preemption occurs when a higher level of government limits…
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States enact 14 ESG-related bills in 2026
State legislatures enacted 14 ESG-related bills during the 2026 legislative sessions, including two that became law after lawmakers overrode gubernatorial vetoes. This was the fewest ESG bills enacted in a single year since 2021. Legislators introduced 174 ESG-related bills this year. Fourteen became law, one was vetoed, eight advanced to a second chamber, 72 are…
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Five states enact proxy advisor disclosure laws
Five states — Tennessee, Oklahoma, Indiana, Kentucky, and Kansas — enacted proxy advisor disclosure laws during the 2026 legislative sessions, making proxy advisor regulation the most common ESG-related policy approach enacted this year. Kentucky and Kansas enacted their laws after Republican-controlled legislatures overrode vetoes from Democratic governors. Proxy advisory firms, including Institutional Shareholder Services (ISS)…
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Texas sues Glass Lewis over proxy advice disclosures
Texas Attorney General Ken Paxton (R) sued Glass Lewis in Texas District Court for Collin County on July 29, 2026, alleging deceptive trade practices. Glass Lewis is a San Francisco-based proxy advisory firm that advises institutional investors how to vote at corporate shareholder meetings. According to the complaint, the firm advises more than 1,300 investment…
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California proposes narrowing Scope 3 emissions reporting
The California Air Resources Board (CARB) proposed limiting companies' initial, mandatory Scope 3 (indirect value chain) emissions disclosures to five of 15 categories under the state's corporate climate reporting law. CARB presented the proposal July 22 during a public workshop on the California Corporate Greenhouse Gas Reporting Program, created under SB 253. The five categories…
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Connecticut treasurer race centers on ESG investing
Environmental, social, and corporate governance (ESG) investing has emerged as a central issue in the Nov. 3 race for Connecticut treasurer. The Connecticut treasurer is responsible for overseeing the financial investment of state monies, including through the state's public pension funds. Connecticut law allows the state treasurer to consider the social, economic, and environmental implications…
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SEC chairman suggests no-action pause could continue
Securities and Exchange Commission (SEC) Chairman Paul Atkins said the agency may continue suspending most no-action letters for shareholder proposal disputes beyond the current proxy season. Speaking on July 9 at the Society for Corporate Governance National Conference in Nashville, Tennessee, Atkins said the policy change caused fewer disruptions than many observers had predicted. Rule…
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Labor Department submits revised ESG rule to White House
The Employee Benefits Security Administration (EBSA), part of the Department of Labor, submitted a proposed rule to the Office of Information and Regulatory Affairs (OIRA) on June 30, 2026. The proposed rule would restrict plan fiduciaries from prioritizing environmental, social, and governance (ESG) and diversity, equity, and inclusion (DEI) factors when selecting investments and exercising…