Tag: economy and society

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…

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?…