Tag: esg

  • 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…

  • Indiana Secretary of State issues cease-and-desist order against BlackRock

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    Indiana Secretary of State Diego Morales (R) announced his office issued a cease-and-desist order Aug. 22 against BlackRock, arguing the asset manager misled investors and used non-ESG funds to promote ESG goals. Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against,…

  • Fifth Circuit sends ESG rule to lower court following Loper Bright

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    The United States Court of Appeals for the Fifth Circuit ruled July 18 that the U.S. District Court for the Northern District of Texas must rehear a case opposing the Department of Labor’s (DOL) 2022 environmental, social, and corporate governance (ESG) investing rule. Appeals Judge Don R. Willett said the lower court needed a chance…

  • 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…

  • Companies prepare for global climate reporting standards

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    The SEC has paused enforcement of its rule requiring corporate climate disclosures, but companies are still preparing to comply with ESG standards, especially from the European Union. Some companies are already starting to report ESG data in response to uncertainty over when regulations will become enforceable, according to a recent Fortune piece. Ballotpedia tracks support…

  • Labor department ESG rule sent back to lower court for rehearing

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    The U.S. Court of Appeals for the Fifth Circuit ruled July 18 that the U.S. District Court for the Northern District of Texas must rehear the Republican attorneys general lawsuit opposing the Department of Labor’s 2022 rule allowing the use of ESG in ERISA-governed pension plans. The Fifth Circuit said the lower court needed to…