Tag: environmental

  • Exxon sues California over new climate disclosure laws

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    The European Parliament voted on Oct. 22, 2025, to reject a proposal that would have simplified the European Union’s (EU) sustainability reporting and due diligence rules. The bill sought to narrow company-size thresholds and reduce specific disclosure requirements under the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD). Opponents of the…

  • California identifies more than 4,000 companies subject to emissions reporting

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    In this week’s edition of Economy and Society: Around the world ESG funds drive defense sector boom in Europe What’s the story? European defense and aerospace stocks have risen about 300% since Russia’s 2022 invasion of Ukraine, according to the Financial Times. ESG investment funds—once reluctant to include weapons makers—are now a major factor in…

  • Oregon governor signs ESG investing law

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    Oregon Gov. Tina Kotek (D) signed the Climate Resilience Investment Act on June 26, directing the state’s $96 billion Public Employees Retirement System to study the effects of its investments on climate change and to “pursue the goal of reducing the carbon intensity of the fund.” The law is among the first to directly require…

  • Arizona voters to decide on constitutional amendment prohibiting taxes on vehicle miles traveled and related limits in Nov. 2026

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    Arizona voters will decide on a constitutional amendment that would prohibit taxes on miles traveled in a motor vehicle and prevent state and local governments from limiting miles traveled by any individual in a motor vehicle. The amendment will appear on the ballot on Nov. 3, 2026. A vehicle miles traveled (VMT) tax, sometimes called…

  • Rhode Island Senate approves environmental rights amendment; three states have similar constitutional provisions

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    The Rhode Island State Senate passed a constitutional amendment to establish a right to clean air, clean water, healthy soil, a life-supporting climate, and preservation of the environment. Senate Resolution 327 (S. 327), introduced by State Sen. V. Susan Sosnowski (D-37), passed the Senate in a vote of 32-4 on June 3. The constitutional amendment…

  • SEC ends defense of climate reporting rules

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    The Securities and Exchange Commission (SEC) announced last week that it voted to end its defense of the Biden-era corporate emissions reporting rules. The decision indicates the majority of current SEC commissioners do not support the implementation of the rules. Acting SEC Chair Mark Uyeda said the commission wanted to end its “defense of the…

  • Banks exit net-zero alliance

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    What’s the story? Three major banks announced over the last several days that they are leaving the Net-Zero Banking Alliance. Morgan Stanley, Citigroup, and Bank of America indicated they would exit the group. Why does it matter? The announcements follow similar actions from Goldman Sachs and Wells Fargo last month. They are part of a…

  • BlackRock leaves net-zero alliance, NZAM suspends operations

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    BlackRock—the world’s largest asset manager—announced Jan. 9 that it is leaving the Net-Zero Asset Managers Initiative (NZAM), a United Nations-affiliated group promoting emission reductions. NZAM announced Jan. 13 that it is suspending operations and removing the commitment statement and list of signatories from its website. The group said in a statement it will reevaluate its…

  • SEC chairman announces resignation

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    SEC Chairman Gary Gensler announced Nov. 21 that he will leave his position effective Jan. 20, 2025, at the end of Joe Biden’s (D) presidency. Trump will name his replacement. Gensler promoted policies supportive of ESG investing as chairman, including a set of rules requiring climate-related corporate disclosures. Most commentators believe Trump’s replacement will likely…