Tag: ESG initiatives
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Recapping the top five stories of the pro-ESG movement in 2023
Ballotpedia's Economy & Society newsletter on Jan. 16 recapped the following top five noteworthy developments supporting ESG from 2023: To read the full recap, click here. To read our breakdown of the biggest developments opposing ESG in 2023 click here. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing…
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House committee issues more subpoenas related to ESG practices
The House Judiciary Committee issued more subpoenas last week in its ongoing investigation into whether some finance companies may have violated antitrust laws through their ESG investing practices. The subpoenas include requests for information from the heads of BlackRock and State Street, specifically. Ballotpedia tracks support for and opposition to the environmental, social, and corporate…
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New York Supreme Court could hear case opposing ESG investment by NYC pension plans
Four New York City employees, with the help of nonprofit legal organization Americans for Fair Treatment, filed a lawsuit in May opposing New York City pension plans’ environmental investment considerations. The court, according to E&E News, could be the first to hear a legal claim against investment managers who consider ESG. Ballotpedia tracks support for…
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Pensioner sues Oklahoma over ESG restrictions
Former Oklahoma state employee Don Keenan is suing the state, alleging that the Oklahoma law prohibiting state contracts with financial firms that boycott oil, gas, and other types of companies violates the U.S. Constitution and federal law. Keenan says he thinks oil and gas are important economically but argues the law, in his view, imposes…
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House Republicans continue pushback against ESG considerations in retirement plans
House Republicans again pushed back on the Biden administration’s rule allowing ESG considerations in investments governed by the Employee Retirement Income Security Act of 1974 (ERISA). The House Ways and Means Committee held a hearing on the matter on November 7. The Republicans on the committee released a statement after the hearing arguing that, in…
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House Judiciary Committee subpoenas ESG supporters
The House Judiciary Committee last week subpoenaed certain organizations that support ESG to investigate whether the groups have violated antitrust laws, according to the committee. The first subpoena went to As You Sow, which the committee said did not respond to previous voluntary requests for documents and information. The committee also subpoenaed the Glasgow Financial…
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State attorneys general appeal challenge to labor department’s ESG rule
The state attorneys general who sued the Biden administration to overturn its rule allowing ESG considerations in Employee Retirement Income Security Act of 1974 (ERISA)-governed pension plans filed an appeal on October 26. The case was previously thrown out in a federal district court. Ballotpedia tracks support for and opposition to the environmental, social, and…
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SEC deprioritizes ESG enforcement
The Securities and Exchange Commission (SEC) publicly named ESG enforcement as one of its top priorities after President Joe Biden (D) took office and has been active on the issue ever since. But the commission’s annual priorities list for 2024 did not mention ESG, indicating the SEC is shifting its compliance priorities. Ballotpedia tracks support…
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House Oversight Committee seeks documents from SEC
House Oversight Committee Chairman James Comer (R) sent a letter late last week to Securities and Exchanges Commission (SEC) Chairman Gary Gensler saying the committee would subpoena the commission if it did not comply with congressional document requests. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To…
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SEC emissions disclosure rule could come later than expected
Securities and Exchange Commission (SEC) spokesperson Mellissa Campbell Duru said last week the expected October release date for the commission’s emissions disclosure rule was a best estimate that could be inaccurate, according to a Bloomberg Law report. Campbell Duru also said the SEC—like BlackRock CEO Larry Fink and others in the capital markets—wants to limit…