Tag: economy and society

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…

In this week’s edition of Economy and Society: In Washington, D.C. Democrats request environmental policies from asset managers What’s the story? Rep. Maxine Waters (D-Calif.) and 40 other House Democrats sent letters last week to major U.S. banks and asset managers requesting details about their current climate and ESG strategies. The lawmakers also asked whether…

In this week’s edition of Economy and Society: In Washington, D.C. ESG critic appointed to Labor Department What’s the story? The Department of Labor this month appointed Justin Danhof—a critic of ESG investing and a proxy voting and corporate engagement expert—as a senior policy advisor in the Employee Benefits Security Administration. Why does it matter?…

In this week’s edition of Economy and Society: In Washington, D.C. House subcommittee addresses proxy advisory firms What’s the story? The House Financial Services Subcommittee on Capital Markets held a hearing last week on proxy advisory firms, which guide institutional investors on how to vote their shares.  Why does it matter? Opponents say proxy firms…

In this week’s edition of Economy and Society: In Washington, D.C., and around the world Fannie Mae closes ESG department What’s the story? Fannie Mae—the Federal National Mortgage Association, a government-sponsored enterprise (GSE)—shut down its ESG department, firing over 30 employees, including Laurel Davis, head of the company’s mission and impact program. Why does it…

In this week’s edition of Economy and Society: In Washington, D.C., and around the world SEC approves new stock exchange with environmental standards What’s the story? The Securities and Exchange Commission (SEC) approved the nation’s first environmentally focused stock exchange, the Global Impact Exchange (GIX), on Apr. 11. The exchange is expected to begin trading…

In this week’s edition of Economy and Society: In Washington, D.C., and around the world Trump issues executive order opposing state ESG policies  What’s the story? President Donald Trump (R) issued an executive order last week directing U.S. Attorney General Pam Bondi to investigate and block enforcement of state laws promoting ESG policies. Trump argued…

In this week’s edition of Economy and Society: In Washington, D.C. Republicans ask SEC to drop ESG rules What’s the story? The House Financial Services Committee sent a letter last week to the Securities and Exchange Commission (SEC) asking the agency to rescind several Biden-era climate-related rules, including: Why does it matter? The fight over…

In this week’s edition of Economy and Society: In Washington, D.C. SEC ends defense of climate reporting rules What’s the story? The Securities and Exchange Commission (SEC) announced last week that it voted to end its defense of the Biden-era corporate emissions reporting rules. Why does it matter? The decision indicates the majority of current…