Tag: ESG initiatives

  • 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…

  • New York City pension system joins net zero asset group

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    What’s the story? The New York City Employees’ Retirement System (NYCERS)—under the direction of city Comptroller Brad Lander (D)—joined the Net-Zero Asset Owner Alliance (NZAOA), extending its commitment to ESG investment strategies. NZAOA’s members manage more than $9.5 trillion and commit to using their investments to reduce carbon emissions. Why does it matter? The NYCERS…

  • ESG policy debated in state treasurer races

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    Voters in 10 states will vote on their treasurer next week. Voters in 8 states will vote on their auditor. State treasurers oversee state investments, such as public pension funds, making them responsible for deciding if their respective states will incorporate ESG strategies into their portfolios. Additionally, both treasurers and auditors commonly have roles implementing…

  • ESG critics testify in favor of Texas anti-ESG law

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    Two ESG opponents—William Hild (the executive director of Consumers’ Research) and Eric Bledsoe (a senior fellow at the Foundation for Government Accountability)—gave testimonies before the Texas Senate on Oct. 17. They argued the state’s anti-ESG laws produced positive results and said non-ESG investment funds tend to outperform investments that consider other factors. Ballotpedia tracks support…

  • U.S. House passes two bills opposing ESG

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    The House of Representatives passed two bills opposing ESG on Sept. 18 and Sept. 19. HR 5339 would require fiduciaries to make investment decisions based on financial factors. HR 4790 proposed limiting the Securities and Exchange Commission’s (SEC) climate risk disclosure requirements. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance…

  • State treasurers argue corporations should focus on shareholder value

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    A group of Republican state treasurers sent a letter on Aug. 28 asking the Business Roundtable to change its 2019 statement defining the purpose of corporations. The treasurers argued the definition deprioritized shareholder interests in profit and risk management and promoted ESG investing. Ballotpedia tracks support for and opposition to the environmental, social, and corporate…

  • Court blocks Missouri anti-ESG rules

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    A federal court last week threw out two 2023 Missouri rules that limited ESG in investment plans. The court argued the rules conflicted with federal law. 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 ESG, click here. For…

  • House Republicans argue against ESG in financial services report

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    The House Republican Environmental, Social, and Governance Working Group last week released a report on ESG. The report argued the Biden administration promoted ESG initiatives to advance environmental and social policies without congressional support. It also proposed anti-ESG policies related to proxy voting, shareholder proposals, ESG ratings, and other topics. Ballotpedia tracks support for and…