Tag: esg
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Texas sues Glass Lewis over proxy advice disclosures
Texas Attorney General Ken Paxton (R) sued Glass Lewis in Texas District Court for Collin County on July 29, 2026, alleging deceptive trade practices. Glass Lewis is a San Francisco-based proxy advisory firm that advises institutional investors how to vote at corporate shareholder meetings. According to the complaint, the firm advises more than 1,300 investment…
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California proposes narrowing Scope 3 emissions reporting
The California Air Resources Board (CARB) proposed limiting companies' initial, mandatory Scope 3 (indirect value chain) emissions disclosures to five of 15 categories under the state's corporate climate reporting law. CARB presented the proposal July 22 during a public workshop on the California Corporate Greenhouse Gas Reporting Program, created under SB 253. The five categories…
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Connecticut treasurer race centers on ESG investing
Environmental, social, and corporate governance (ESG) investing has emerged as a central issue in the Nov. 3 race for Connecticut treasurer. The Connecticut treasurer is responsible for overseeing the financial investment of state monies, including through the state's public pension funds. Connecticut law allows the state treasurer to consider the social, economic, and environmental implications…
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SEC chairman suggests no-action pause could continue
Securities and Exchange Commission (SEC) Chairman Paul Atkins said the agency may continue suspending most no-action letters for shareholder proposal disputes beyond the current proxy season. Speaking on July 9 at the Society for Corporate Governance National Conference in Nashville, Tennessee, Atkins said the policy change caused fewer disruptions than many observers had predicted. Rule…
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Labor Department submits revised ESG rule to White House
The Employee Benefits Security Administration (EBSA), part of the Department of Labor, submitted a proposed rule to the Office of Information and Regulatory Affairs (OIRA) on June 30, 2026. The proposed rule would restrict plan fiduciaries from prioritizing environmental, social, and governance (ESG) and diversity, equity, and inclusion (DEI) factors when selecting investments and exercising…
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California delays first emissions reporting deadline to November
The California Air Resources Board (CARB) delayed the state’s first corporate emissions reporting deadline from Aug.10, 2026, to Nov. 10, 2026. CARB gave companies with more than $1 billion in annual revenue that do business in California an additional three months to report their direct (Scope 1) and indirect (Scope 2) greenhouse gas emissions under…
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ISO launches draft standard for net zero framework
On June 17, 2026, the International Organization for Standardization (ISO) launched a 12-week public consultation for the ISO Net Zero Aligned Organizations Standard, known as ISO 14060. According to ISO, this represents "the world’s first international independently verifiable standard designed to support organizations in developing credible and comprehensive net zero transition plans." The consultation includes…
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Texas, Nebraska, Iowa, West Virginia sue ISS over ESG disclosures
Four Republican state attorneys general filed lawsuits on May 20, 2026, against Institutional Shareholder Services (ISS), accusing the proxy advisory firm of violating state consumer protection laws by failing to disclose that its voting recommendations prioritize environmental, social, and governance (ESG) policies over clients' financial interests. Texas Attorney General Ken Paxton (R), Nebraska Attorney General…
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New York replaces 2030 emissions goal with 2040 target
New York Governor Kathy Hochul (D) announced a proposed $268 billion budget on May 7, 2026, that would change emissions reduction targets and regulatory deadlines under the state's 2019 Climate Leadership and Community Protection Act (CLCPA). Hochul said, “an agreement has been reached with legislative leaders on key priorities.” Under the proposed budget, lawmakers will…
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Proxy advisors sue Indiana and Kansas over disclosure laws
Institutional Shareholder Services (ISS) and Glass Lewis filed lawsuits in April 2026 challenging state laws in Indiana and Kansas that require the proxy advisory firms to disclose when their voting recommendations differ from management’s recommendations on shareholder votes. ISS sued Kansas on April 29 in the U.S. District Court for the District of Kansas. Glass…