Tag: environmental
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Oregon governor signs ESG investing law
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…
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Arizona voters to decide on constitutional amendment prohibiting taxes on vehicle miles traveled and related limits in Nov. 2026
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…
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Rhode Island Senate approves environmental rights amendment; three states have similar constitutional provisions
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…
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SEC ends defense of climate reporting rules
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…
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Banks exit net-zero alliance
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…
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BlackRock leaves net-zero alliance, NZAM suspends operations
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…
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SEC chairman announces resignation
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…
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24 Republican attorneys general oppose California’s electric truck regulation
Twenty-four Republican attorneys general sent a letter on Sept. 16 to the Environmental Protection Agency (EPA) asking the agency to block the California Air Resources Board’s (CARB) Advanced Clean Fleets regulation, which would require fleet owners operating in the state to use electric trucks. The attorneys general argue California’s regulation impacts national transportation industries and…
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Alabama auditor argues ESG hurts agriculture
Alabama State Auditor Andrew Sorrell (R) argued in an op-ed published Oct. 13 that ESG threatens farmers—especially those in his state. Sorrell said environmental regulations and corporate policies would increase farming costs and damage large agricultural industries. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn…
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Companies prepare for global climate reporting standards
The SEC has paused enforcement of its rule requiring corporate climate disclosures, but companies are still preparing to comply with ESG standards, especially from the European Union. Some companies are already starting to report ESG data in response to uncertainty over when regulations will become enforceable, according to a recent Fortune piece. Ballotpedia tracks support…