Tag: esg

  • North Carolina governor vetoes state bill opposing ESG

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    Gov. Roy Cooper, a Democrat and ESG supporter, on June 23 vetoed a bill banning the use of ESG in state investments. The bill previously passed the state House on May 3 and the state Senate on June 13. The bill now heads back to the legislature, which is expected to have the votes to…

  • States send letters and questionnaires inquiring about ESG at firms

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    Twenty-one state financial officers signed letters on May 15 that were sent to large asset management firms and two proxy advisory services (Glass-Lewis and Institutional Shareholder Services, who combined represent 95% of the proxy advisory business), requesting answers to questions about the use of ESG and the justification for doing so as legal fiduciaries of…

  • Biden executive order incorporates environmental justice into federal agency missions

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    President Joe Biden (D) issued an executive order on April 21 creating a White House Office of Environmental Justice and directing all federal agencies to prioritize what it described as environmental justice in their policymaking whenever and however possible. According to Fox News: “President Biden will sign an executive order Friday in the Rose Garden…

  • New Hampshire governor signs executive order prohibiting ESG in state investments

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    New Hampshire Gov. Chris Sununu (R) signed an executive order April 11 directing state executive agencies to invest their funds based on expected financial returns (not based on ESG investing criteria), making the state the latest to push back against ESG in public investments. According to NH Journal: “Just weeks after the Biden administration imposed…

  • Vanguard announces exit from net zero climate investment alliance

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    ESG Developments This Week In Washington, D.C. The Fed and ESG On December 2, the Federal Reserve’s board of governors released its proposed rule on climate risks for big banks, including its proposed environmental stress tests. The board asked for public comments: “The Federal Reserve Board of Governors on Dec. 2 invited public comment on…

  • Midterm results could strengthen state opposition to ESG

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    ESG Developments This Week In the States Republican midterm gains could strengthen state opposition to ESG according to Roll Call Republicans flipped five state financial officer positions previously held by Democrats in Kansas, Iowa, Missouri, Nevada, and Wisconsin during the midterm elections. The partisan changes could strengthen opposition to ESG investing, according to a Roll…

  • Former Vice President Pence takes on ESG

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    ESG Developments This Week In Washington, D.C. Pence takes on ESG On May 10, ESG investing was the topic of discussion at an event in Houston, where former Vice President Mike Pence (R), critiqued the ESG role in changing the composition of the board of directors at Exxon-Mobil in 2021 and asked state-level officials to…

  • California corporate diversity law ruled unconstitutional

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    ESG Developments This Week In Washington, D.C. SEC disclosure proposal means new challenges for auditors On March 21, the Securities and Exchange Commission (SEC) introduced its proposal on mandatory climate disclosures for publicly traded companies. Ever since, various media and analysts have been combing through the document, trying to figure out what exactly the new…

  • Responses to the SEC’s disclosure rule announcement

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    ESG Developments This Week In Washington, D.C. Responses to the SEC’s sustainability disclosure rule announcement In the week since the Securities and Exchange Commission (SEC) announced its plans to require sustainability disclosures from publicly traded companies, the reactions have been both manifold and diverse. Some support the idea, while others don’t. In any case, the…