Tag: ESG investing

  • Missouri withdraws appeal in ESG lawsuit

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    Missouri Attorney General Andrew Bailey (R) announced the state will withdraw its appeal of a court ruling overturning two anti-ESG investment rules. The rules would have penalized asset managers who invested based on ESG factors without the written consent of their clients. The withdrawal leaves the constitutional question for similar rules unsettled in U.S. courts.…

  • 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…

  • SEC files brief defending climate rule

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    The Securities and Exchange Commission submitted a brief to the U.S. Eighth Circuit Court of Appeals last week seeking to defend its rule requiring corporate climate disclosures. The agency argued environmental risks are relevant to investment decisions. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn…

  • House Appropriations Committee passes budget blocking ESG labor rule

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    The House Appropriations Committee passed a fiscal year 2025 labor budget bill on July 10 that proposed prohibiting the Department of Labor from implementing its rule allowing ESG considerations in Employee Retirement Income Security Act (ERISA)-governed retirement plans. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To…

  • Indiana treasurer adds BlackRock to state ESG watchlist

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    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…

  • Largest state pension fund announces punitive action against ExxonMobil

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    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…

  • Texas education fund pulls $8.5 billion from BlackRock

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    The Texas Permanent School Fund (TPSF) on March 19, 2024, pulled roughly $8.5 billion from BlackRock’s asset management. Texas State Board of Education Chairman Aaron Kinsey (R) argued that since BlackRock supported environmental, social, and corporate governance (ESG) investing through its boycott of the fossil fuel industry, state law prohibited BlackRock from managing public funds.…