Tag: ESG restrictions
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SEC ends defense of climate reporting rules
The Securities and Exchange Commission (SEC) announced last week that it voted to end its defense of the Biden-era corporate emissions reporting rules. The decision indicates the majority of current SEC commissioners do not support the implementation of the rules. Acting SEC Chair Mark Uyeda said the commission wanted to end its “defense of the…
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BlackRock CEO seeks firm’s removal from Texas prohibited asset manager list
BlackRock CEO Larry Fink petitioned Texas elected officials to remove the firm from the state’s prohibited asset manager list at an energy investment summit on February 6. BlackRock has not been eligible to manage public assets in Texas since August 24, 2022, when Texas Comptroller Glenn Hegar (R) released a list of companies and funds…
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Missouri Democrats continue pushback against rule opposing ESG
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…
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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…