Tag: Environmental Social and Corporate Governance
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Texas sues Glass Lewis over proxy advice disclosures
Texas Attorney General Ken Paxton (R) sued Glass Lewis in Texas District Court for Collin County on July 29, 2026, alleging deceptive trade practices. Glass Lewis is a San Francisco-based proxy advisory firm that advises institutional investors how to vote at corporate shareholder meetings. According to the complaint, the firm advises more than 1,300 investment…
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California proposes narrowing Scope 3 emissions reporting
The California Air Resources Board (CARB) proposed limiting companies' initial, mandatory Scope 3 (indirect value chain) emissions disclosures to five of 15 categories under the state's corporate climate reporting law. CARB presented the proposal July 22 during a public workshop on the California Corporate Greenhouse Gas Reporting Program, created under SB 253. The five categories…
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ISO launches draft standard for net zero framework
On June 17, 2026, the International Organization for Standardization (ISO) launched a 12-week public consultation for the ISO Net Zero Aligned Organizations Standard, known as ISO 14060. According to ISO, this represents "the world’s first international independently verifiable standard designed to support organizations in developing credible and comprehensive net zero transition plans." The consultation includes…
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Texas, Nebraska, Iowa, West Virginia sue ISS over ESG disclosures
Four Republican state attorneys general filed lawsuits on May 20, 2026, against Institutional Shareholder Services (ISS), accusing the proxy advisory firm of violating state consumer protection laws by failing to disclose that its voting recommendations prioritize environmental, social, and governance (ESG) policies over clients' financial interests. Texas Attorney General Ken Paxton (R), Nebraska Attorney General…
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JPMorgan confirms closing Trump accounts after Jan. 6
JPMorgan Chase acknowledged in a February 2026 court filing that it closed bank accounts of President Trump (R) and several of his businesses in February 2021, following the Jan. 6, 2021, breach of the U.S. Capitol. The bank's former chief administrative officer, Dan Wilkening, wrote in the filing that JPMorgan informed Trump that certain accounts…
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New York Senate passes $1 billion emissions reporting bill
On Feb. 10, 2026, the New York Senate passed Senate Bill 9072A, the Climate Corporate Data Accountability Act, by a 40–22 vote. The vote fell along party lines, with Democrats in favor and Republicans opposed. The bill would apply to companies that do business in New York and generate more than $1 billion in annual…
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Wells Fargo moves proxy voting in-house
On Jan. 29, 2026, Wells Fargo announced that its Wealth & Investment Management division launched a proprietary system to manage proxy voting internally, ending its use of outside proxy advisory services. The firm said it will now direct proxy voting for index funds and other managed products where Wells Fargo invests and votes on behalf…
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House passes bill limiting ESG use in retirement plans
On Jan. 15, 2026, the Republican-led U.S. House of Representatives passed the Protecting Prudent Investment of Retirement Savings Act (H.R. 2988) by a 213–205 vote, advancing legislation that would limit when fiduciaries may consider environmental, social, and governance (ESG) factors in employer-sponsored retirement plans governed by the Employee Retirement Income Security Act (ERISA). Rep. Rick…
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ESG-related policy during the first year of the second Trump administration
During the first year of President Donald Trump’s (R) second administration, federal agencies took a series of actions affecting environmental, social and governance (ESG) considerations in financial regulation, labor policy, environmental reporting, and corporate governance. Rather than a single sweeping change, these actions occurred through several mediums including rule withdrawals, enforcement decisions, and shifts in…
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Investor group urges SEC to oppose forced arbitration
On Nov. 6, 2025, the Council of Institutional Investors (CII) sent a letter to Securities and Exchange Commission (SEC) Chairman Paul S. Atkins opposing recent SEC actions related to mandatory arbitration clauses in public company registration statements. Mandatory arbitration provisions can limit investors’ ability to bring claims in court, pursue class actions, or rely on…