Tag: economy and society

In this week’s edition of Economy and Society: In Washington, D.C. Labor Department says Citi’s racial equity program violates civil rights laws What’s the story The Department of Labor’s Employee Benefits Security Administration (EBSA) issued an advisory opinion last week arguing Citigroup’s racial equity program violates federal civil rights laws. The program was created to…

In this week’s edition of Economy and Society: Around the world Germany to reestablish sustainability board What’s the story? The German government told media last week that the Federal Ministry of Finance will reinstate the Sustainable Finance Beirat—the board that advises the national strategy on sustainable finance—sometime this year. Why does it matter? The Beirat…

In this week’s edition of Economy and Society: In the states Missouri attorney general investigates proxy advisory services What’s the story? Missouri Attorney General Andrew Bailey (R) announced last week his office is investigating Institutional Shareholder Services (ISS) and Glass Lewis, the two largest U.S. proxy advisory firms, alleging they prioritized political agendas over fiduciary…

In this week’s edition of Economy and Society: Around the world EU member states ask for cuts to deforestation rules What’s the story? Eighteen of the European Union’s 27 member states sent a letter July 7 asking the EU to scale back its upcoming deforestation rules, set to take effect in December. The countries argued…

In this week’s edition of Economy and Society: Around the world EU regulators propose ESG stress test standards What’s the story? Three EU financial regulators—the European Banking Authority, the European Insurance and Occupational Pensions Authority, and the European Securities and Markets Authority—have proposed new rules requiring national banking and insurance regulators in member states to…

In this week’s edition of Economy and Society: Around the world European Commission to drop greenwashing rule What’s the story? The European Commission (EC) announced plans June 20 to withdraw its Green Claims Directive, a proposed regulation that would have required companies to substantiate environmental marketing claims—such as carbon neutral or eco-friendly—that lacked clear standards.…

In this week’s edition of Economy and Society: In Washington, D.C., and around the world SEC withdraws proposed ESG rules What’s the story? The Securities and Exchange Commission (SEC) withdrew two ESG-related proposed rules last week—one that would have expanded ESG disclosure requirements and another that would have revised the shareholder proposal submission process. Why…

In this week’s edition of Economy and Society: In the states Texas comptroller removes BlackRock from boycott list What’s the story? Texas Comptroller Glenn Hegar announced last week that his office removed BlackRock from the state’s list of firms barred from managing public investment funds over their treatment of fossil fuel companies. Hegar said BlackRock’s…

In this week’s edition of Economy and Society: In Washington, D.C. Labor Department drops defense of ESG rule What’s the story? The Department of Labor (DOL) filed court documents last week indicating it will stop defending a Biden-era rule allowing ESG considerations in retirement plans. The agency said it plans to propose a new rule…

In this week’s edition of Economy and Society: In Washington, D.C. Federal government weighs in on Texas antitrust suit against Big Three What’s the story? The U.S. Department of Justice and Federal Trade Commission filed a statement of interest last week in an 11-state, Texas-led lawsuit alleging BlackRock, State Street, and Vanguard colluded to suppress…