Tag: environmental social and corporate governance investing

Vanguard joins BlackRock in reducing support for ESG shareholder proposals

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September 8, 2023

Fox Business reported on August 29 that Vanguard—the second largest asset manager in the world and the largest manager of passive funds—reduced its support for pro-ESG proxy proposals during the past shareholder season. The report followed news that BlackRock, the world’s largest asset manager (measured by assets under management) also supported fewer ESG proposals. Ballotpedia…
Congressmen send letters requesting ESG information from Big Three asset managers

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July 14, 2023

House Judiciary Committee Chairman Jim Jordan (R-Ohio), along with Reps. Thomas Massie (R-Ky.) and Dan Bishop (R-N.C.), sent letters to the Big Three passive asset management firms—BlackRock, State Street, and Vanguard—on July 6 requesting information about their efforts to combat climate change through ESG. Jordan said such efforts could violate antitrust laws. Ballotpedia tracks support…
House Republican introduces bill opposing ESG in retirement funds

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June 30, 2023

Congressman Andy Barr (R-Ky.) introduced a bill on June 21 opposing the Biden Labor Department’s rule allowing the use of ESG in retirement plan investments. Both chambers recently passed a Congressional Review Act (CRA) resolution overturning the Labor Department rule, but President Joe Biden (D) vetoed that legislation. Congressman Barr introduced the new bill in…