Author: Jon Dunn
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Trump weighs executive order to limit proxy advisors
The Trump administration is considering an executive order that would reduce the influence of Institutional Shareholder Services (ISS) and Glass Lewis, the two largest proxy advisory firms in the United States, according to the Wall Street Journal. Officials are reviewing whether the firms exert too much control over how institutional investors vote on corporate matters.…
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Republican AGs warn companies about European ESG compliance
A coalition of 16 Republican state attorneys general sent letters in October 2025 to corporate leaders at Microsoft, Google, and Meta alleging that compliance with the European Union’s sustainability directives could violate U.S. law. The officials cited the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD), saying the measures would effectively…
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Net Zero Asset Managers Initiative relaunches without net-zero deadline
The Net Zero Asset Managers Initiative announced on Oct. 30, 2025, that it will resume operations after pausing earlier this year to review its climate commitments. The investor coalition—which once included more than 325 firms managing over $57 trillion—said it has deleted language in its commitment statement that required members to aim for net-zero greenhouse-gas…
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Exxon sues California over new climate disclosure laws
The European Parliament voted on Oct. 22, 2025, to reject a proposal that would have simplified the European Union’s (EU) sustainability reporting and due diligence rules. The bill sought to narrow company-size thresholds and reduce specific disclosure requirements under the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD). Opponents of the…
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Regulators withdraw climate-risk principles for large banks
On Oct. 9, the Federal Reserve and Federal Deposit Insurance Corporation (FDIC) announced they will withdraw the Principles for Climate-Related Financial Risk Management for Large Financial Institutions. The principles were issued in 2023 to help large banks assess and manage climate-related financial risks. The agencies said they “do not believe principles for managing climate-related financial…
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EU to delay sustainability reporting for non-EU companies
The European Union (EU) will postpone its requirement that non-EU companies adopt upcoming sustainability-reporting standards under the Corporate Sustainability Reporting Directive (CSRD). The delay, part of the Omnibus I reform package the European Parliament’s Legal Affairs Committee approved on October 9, 2025, would move the compliance date from June 2026 until at least October 2027.…
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Judge restricts ESG use in American Airlines 401(k) plan
U.S. District Judge Reed O’Connor, appointed by President George W. Bush (R), issued a final ruling in Spence v. American Airlines Inc., siding partly with a pilot who sued the airline over ESG-linked retirement investments. O’Connor ruled that American Airlines breached its duty of loyalty under the Employee Retirement Income Security Act (ERISA) because it…
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Overview of implications for the administrative state in decisions from the 2024-25 Supreme Court term
What’s the story? The U.S. Supreme Court ended its October 2024 term on June 27, 2025, with a series of rulings on the administrative state. The Court issued 13 decisions that affected federal agency operations and oversight. The most notable opinions from the term included decisions: SCOTUS also clarified constitutional boundaries on agency appointments, declined…
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Overview of federalism implications in decisions from the 2024-25 Supreme Court term
What’s the story? During the 2024 term, which ended on June 27, 2025, the U.S. Supreme Court issued several decisions that affected the balance of federalism, altering how authority is shared between states and the federal government. The rulings focused less on policy outcomes and more on procedural rules, addressing disputes over the proper use…