Tag: economy and society

ESG Developments This Week In Washington, D.C., and around the world Saudi sovereign wealth fund reportedly seeking ESG framework, redux In the July 21 edition of this newsletter, we noted that the Saudi “sovereign wealth fund reportedly has begun the process of developing ESG reporting standards that will, presumably, allow it to raise greater funds…

ESG Developments This Week In Washington, D.C., and around the world Regulatory scrutiny over ESG-related sustainability claims intensifies As was noted in last week’s newsletter, the SEC is investigating DWS (the asset management arm of Deutsche Bank) for alleged ESG-related fraud—claims DWS rejects. Many ESG observers believe that the DWS probe is the beginning of…

ESG Developments This Week In Washington, D.C. SEC, Justice Department probe Deutsche Bank’s DSW sustainability claims In the August 3, 2021, edition of this newsletter, we noted that Deutsche Bank and its asset management arm, DSW, were the subject of criticism by a former director of sustainability, Desiree Fixler, who had recently left the firm…

ESG Developments This Week In Washington, D.C., and around the world SEC weighing human capital disclosures  On August 18, SEC Chairman Gary Gensler tweeted to explain to investors, asset managers, and corporations what is next on the SEC’s ESG agenda. He wrote: “Investors want to better understand one of the most critical assets of a…

ESG Developments This Week In Washington, D.C. The SEC and diversity On Friday, August 6, the Securities and Exchange Commission approved a plan set forth by the Nasdaq stock exchange to promote diversity among the companies it lists. Late last year, Nasdaq suggested that all listed companies would either have to have underrepresented minority groups…

ESG Developments This Week In Washington, D.C. House Democrats urge repeal of Trump administration ESG rule On July 29, 13 Democratic Members of the House of Representatives sent an open letter to Labor Secretary Marty Walsh asking him to take the Labor Department’s actions on ESG investments one step further. The Trump Labor Department enacted…

ESG Developments This Week In Washington, D.C., and around the world ESG pioneer fires back at SEC Commissioner As noted last week in Economy and Society, on July 20, SEC Commissioner Hester Peirce “delivered an address at the Brookings Institution in which she again made the case that the SEC’s current leadership is overstepping both…

ESG Developments This Week In Washington, D.C. SEC continues internal debate about its role in ESG investing On July 20, SEC Commissioner Hester Peirce delivered an address at the Brookings Institution in which she again made the case that the SEC’s current leadership is overstepping both its regulatory mandate and the bounds of what is…

ESG Developments This Week In Washington, D.C. SEC Commissioner Lee delivers speech about board’s role in ESG oversight On June 28, SEC Commissioner (and former acting director) Allison Herren Lee delivered the keynote address at the 2021 Society for Corporate Governance National Conference. In her speech Lee encouraged corporations to make wise decisions when choosing,…

ESG Developments This Week In Washington, D.C. SEC Chairman signals deeper look into ESG investing  In a speech last week to London City Week, SEC Chairman Gary Gensler explained to the audience—and to the financial services world more broadly—that he does not intend for sustainability and climate disclosures from publicly traded companies to constitute the…