Indiana Treasurer Daniel Elliott (R) announced June 21 that he added BlackRock, the world’s largest asset manager, to “a state watchlist, accusing the firm of making illegal environmental, social or governance (ESG) commitments,” according to the Indiana Capital Chronicle. The decision was related to a 2023 state law banning ESG in state pension investments. Ballotpedia…
The House Judiciary Committee released an interim report on June 11 alleging that several organizations, investors, and asset managers colluded to force American corporations to adopt ESG policies. The report specifically referred to Ceres, Climate Action 100+, the Net Zero Asset Managers Initiative, the California Public Employees’ Retirement System (CalPERS), and the Big Three asset…
The House Judiciary Committee late last week interviewed at least two leaders of the Glasgow Financial Alliance for Net Zero (GFANZ), a global network of financial firms supporting ESG. The committee has also requested interviews with several other GFANZ officials and affiliated individuals, including billionaire and former New York City Mayor Michael Bloomberg. Ballotpedia tracks…
The California Public Employees Retirement System (CalPERS), the largest public pension fund in the country, announced on May 21 that it has chosen to take action against ExxonMobil at the company’s May 29 annual shareholder meeting. Because of a lawsuit filed by Exxon against two small shareholders – Arjuna Capital and Follow This – CalPERS…
Twenty-one congressional Democrats sent a letter to SEC Chairman Gary Gensler on May 13 requesting that the commission continue finalizing its rule requiring additional disclosures for self-identified ESG investment funds. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against, and about…
Mississippi Secretary of State Michael Watson (R) on March 26, 2024, sent a cease and desist letter to BlackRock arguing the firm misled investors regarding the extent of its commitment to ESG strategies and threatened to fine the asset manager. Watson specifically said BlackRock’s claim that the firm’s non-ESG funds did not “seek to follow…
The U.S. Court of Appeals for the Fifth Circuit on March 15 temporarily blocked the implementation of the Securities and Exchange Commission’s (SEC’s) new rules on emissions data reporting while the court considers a lawsuit alleging the regulations exceed the SEC’s authority. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance…
The Securities and Exchange Commission (SEC) on March 6 approved its long-awaited final rules on climate reporting standards. As expected, the new rules eliminated requirements for Scope 3 emissions reporting and reduced Scope 1 and 2 requirements. In response to the SEC’s disclosure rules, ten states announced the same day that they would sue to…
West Virginia Treasurer Riley Moore (R) sent a letter on February 22, 2024, to six banks—including Citibank, TD Bank, and HSBC—warning that they may be ineligible for contracts with the state in 45 days unless they show that they do not illegally boycott fossil fuel companies. Ballotpedia tracks support for and opposition to the environmental,…