Tag: economy and society

In this week’s edition of Economy and Society: Around the world US-EU trade agreement has ESG implications What’s the story? The United States and the European Union last week released a joint statement announcing they reached an agreement on trade and tariffs. Details have yet to be finalized, but the EU said it would make…

In this week’s edition of Economy and Society: Around the world Canadian think tank publishes report on ESG ratings What’s the story? On Aug. 15, The Fraser Institute, a Canadian think tank, published a report titled “A Lawsuit Waiting to Happen: The Use of Non-Financial Metrics by the Investment Industry.” The report states that: Why…

Dear Readers, we’re moving Economy & Society from Tuesdays to Wednesdays starting next week—giving us more time to capture what’s shaping the week. In this week’s edition of Economy and Society: Around the world European Banking Authority asks regulators to pause ESG enforcement What’s the story? The European Banking Authority issued a no action letter…

In this week’s edition of Economy and Society: Around the world European group proposes streamlined ESG reporting standards What’s the story? The European Financial Reporting Advisory Group (EFRAG) published its proposed reporting standards for corporations last week under the EU’s Corporate Sustainability Reporting Directive (CSRD), reducing the reporting requirements by roughly two-thirds. Why does it…

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.…