Tag: economy and society

In this week’s edition of Economy and Society: Around the world European Commission announces ESG regulatory simplification What’s the story? The European Commission (EC) released a report last week on its plans to promote European business competitiveness, including a planned ESG regulatory simplification. Why does it matter? This newsletter previously reported on complaints from European…

In this week’s edition of Economy and Society: Around the world Canadian banks leave Net-Zero Banking Alliance What’s the story? Four of Canada’s largest banks—BMO, National Bank, TD Bank Group, and CIBC—announced Jan. 17 they had left the Net-Zero Banking Alliance.  Why does it matter? The move followed the departure of six of America’s largest…

In this week’s edition of Economy and Society: In Washington D.C., and around the world Federal Reserve leaves global climate group What’s the story? The Federal Reserve announced Jan. 17 its departure from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS). Why does it matter? The Fed’s withdrawal is part…

In this week’s edition of Economy and Society: Around the world EU bank regulators release stricter ESG guidelines What’s the story? The European Banking Authority released new guidance last week outlining additional measures for banks to assess their climate risks. Why does it matter? The guidelines highlight the increasing divide between American and European banks.…

In this week’s edition of Economy and Society: Around the world GFANZ announces restructuring What’s the story? The Glasgow Financial Alliance for Net-Zero (GFANZ) has announced restructuring plans, including an initiative to expand participation to all financial institutions seeking guidance on climate-related plans and goals. Previously, the group limited participation to institutions that joined one…

In this week’s edition of Economy and Society: In the states Indiana pension board removes assets from BlackRock’s management What’s the story? The Indiana Public Retirement System’s trustees voted last week to stop using BlackRock for asset management services. The board is considering three firms as replacements: State Street, UBS, and Northern Trust. Why does…

In this week’s edition of Economy and Society: In Washington, D.C., and around the world Trump announces pick for next SEC chairman What’s the story? President-elect Donald Trump announced last week that he will nominate Paul Atkins as the next Securities and Exchange Commission (SEC) chairman.  Why does it matter? Atkins’ views on ESG differ…

In this week’s edition of Economy and Society: In the states 11 states sue BlackRock, Vanguard, and State Street over antitrust laws What’s the story? Eleven Republican-led states on Nov. 27 sued BlackRock, Vanguard, and State Street – the Big Three passive asset managers – arguing the firms violated antitrust laws. The states claimed climate…

In this week’s edition of Economy and Society: In Washington, D.C., and around the world Trump picks fossil fuel proponent for Department of Energy head What’s the story? President-elect Donald Trump (R) announced Nov. 16 that he picked Chris Wright—who has previously said fossil fuel production helps drive economic growth and alleviate poverty—to head the…

In this week’s edition of Economy and Society: Around the world British government drafts legislation to allow ESG ratings regulations What’s the story? The British government is circulating draft legislation that would allow the Financial Conduct Authority (FCA) to issue regulations for ESG rating services. Parliament is expected to introduce a finalized version of the…