Tag: esg

  • Texas governor considers bill requiring proxy advisor disclosures

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    The Texas legislature passed a bill on June 2 requiring proxy advisory firms to disclose when their shareholder vote recommendations at Texas-based companies incorporate ESG or other non-financial considerations. If Gov. Greg Abbott (R) signs the bill, it would become the first law of its kind and give Texas companies new legal recourse when proxy…

  • 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.…

  • Federal government weighs in on Texas antitrust suit against Big Three

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    The U.S. Department of Justice and Federal Trade Commission filed a statement of interest last week in an 11-state, Texas-led lawsuit alleging BlackRock, State Street, and Vanguard colluded to suppress coal production, violating antitrust laws. The statement argued ESG-related coordination among asset managers could raise valid antitrust concerns. Republican-led, energy-producing states like Texas have long…

  • Trump issues executive order opposing state ESG policies

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    Photo of the White House in Washington, D.C.

    President Donald Trump (R) issued an executive order last week directing U.S. Attorney General Pam Bondi to investigate and block enforcement of state laws promoting ESG policies. Trump argued such laws conflict with national security and economic interests. The order lays the groundwork for federal legal challenges against state ESG laws. It reverses the dynamic…

  • SEC ends defense of climate reporting rules

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    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…