Tag: ESG investment

  • Oregon governor signs ESG investing law

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    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…

  • Texas comptroller removes BlackRock from boycott list

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    What’s the story? Texas Comptroller Glenn Hegar announced last week that his office removed BlackRock from the state’s list of firms barred from managing public investment funds over their treatment of fossil fuel companies. Hegar said BlackRock’s recent shift away from public ESG support made the firm eligible to do business with the state again.…

  • European Commission proposes ESG reporting rollback

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    The European Commission unveiled a proposal to scale back ESG reporting requirements under the Corporate Sustainability Reporting Directive (CSRD). Germany and France urged the Commission to ease CSRD requirements, arguing that they undermine EU companies’ competitiveness, especially as the U.S. Securities and Exchange Commission (SEC) has paused its reporting rules. The proposal would exempt up…

  • Banks exit net-zero alliance

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    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…

  • U.S. ESG funds see record outflows

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    In the first quarter of 2024, U.S. investors removed nearly $9 billion of net capital from funds promoting ESG investing strategies. The move marked the largest ESG outflow recorded. 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,…

  • Appeals court pauses implementation of SEC climate rule

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    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…

  • Missouri Democrats continue pushback against rule opposing ESG

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    Missouri Secretary of State Jay Ashcroft (R) published a rule last July restricting the use of ESG in public investment strategies. The Securities Industry and Financial Markets Association (SIFMA) filed a lawsuit in August claiming that the regulation conflicted with federal law. Judge Stephen R. Bough of the U.S. District Court for the Western District…

  • New York Supreme Court could hear case opposing ESG investment by NYC pension plans

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    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…