Tag: esg

  • 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…

  • Economy and Society: Pushback against ESG in retirement plans

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    ESG Developments This Week In Washington, D.C., and around the world Responses to Labor Department’s proposed rule encouraging ESG investments in retirement plans On December 13, National Review’s Capital Matters carried a piece by Richard Morrison, a research fellow at the Competitive Enterprise Institute, critical of the Labor Department’s proposed rule regarding ERISA-governed retirement plans…

  • Economy and Society: Rubio introduces bill targeting ESG-conscious corporate policies

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    ESG Developments This Week In Washington, D.C. Rubio introduces bill targeting ESG-conscious corporate policies U.S. Senator Marco Rubio (R-Fla.) on September 23 introduced the Mind Your Own Business Act, which would allow a company’s shareholders to sue the company if it adopts policies that shareholders claim are not in the company’s best interest. The legislation…

  • Economy and Society: SEC Chairman issues another warning to fund managers

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    ESG Developments This Week In Washington, D.C. SEC Chairman Gensler testimony on crypto, disclosure, and more On September 14, Securities and Exchange Commission (SEC) Chairman Gary Gensler testified before the Senate Committee on Banking, Housing, and Urban Affairs, covering several topics related to ESG investing. First, he discussed the SEC’s interest in regulating crypto-currencies and…