Tag: esg

  • Economy and Society: Buffett rallies opposition to ESG proposals on company proxy statement

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    ESG developments this week On Wall Street and in the private sector An Oracle’s opposition The big story in the ESG world last week was the news that the so-called Oracle of Omaha, Berkshire Hathaway CEO Warren Buffett, opposed ESG proposals on his company’s proxy statement and was able to rally support among members of…

  • Economy and Society: ESG references in federal lobbying reports on the rise

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    ESG developments this week In Washington, D.C. ESG references in federal lobbying reports on the rise On April 29, Roll Call reported that references to ESG in federal quarterly lobbying reports have grown over the last few months—coinciding with the start of the Biden administration. According to the paper, lobbying mentions of ESG had risen…

  • American ESG Now a Trillion Dollar Business

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    Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics. ESG developments this week On Wall Street and in the private sector S&P launches new sustainability project On April…

  • SEC Commissioner argues against integrating ESG concerns into its mission

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    ESG developments this week In Washington, D.C. New SEC Chair sworn in On April 14, Gary Gensler was confirmed by the U.S. Senate (in a mostly party-line 53-45 vote) as the new chair of the Securities and Exchange Commission (SEC). He was sworn in April 17 by Maryland Senator Ben Cardin (D) in a small…

  • Economy and Society: Greater fund disclosure on voting behavior

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    ESG developments this week In Washington, D.C. Greater fund disclosure on voting behavior On March 17, then-acting-chair of the Securities and Exchange Commission, Allison Herren Lee, spoke to the Investment Company Institute, a fund trade group, on Commission plans to address the transparency of fund votes taken on shareholder proposals. She said: “There are two…

  • Economy and Society: SEC broadening definition of materiality

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    ESG developments this week In Washington, D.C. SEC broadening definition of materiality In a March 15 speech given to the Center for American Progress, Acting SEC Chair Allison Herren Lee said that she was grateful for the opportunity “to reflect on the enhanced focus the SEC has brought to climate and ESG” and “on the…

  • Labor Department ends enforcement of Trump administration ESG rule

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    ESG developments this week In Washington, D.C. Labor Department ends enforcement of Trump administration ESG rule  On March 10, the Biden administration announced that it will not enforce a Trump administration Department of Labor rule warning asset managers about their fiduciary responsibilities under ERISA (The Employee Retirement Income Security Act of 1974), specifically concerning ESG-related…

  • Economy and Society: SEC announces enforcement task force on ESG issues

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    ESG developments this week In Washington, D.C. SEC reviewing ESG disclosure practices of publicly traded companies Late last month, the Securities and Exchange Commission, led by acting Chair Allison Herren Lee, announced that it has started reviewing ESG disclosure practices and demands among the publicly traded corporations it regulates. According to Lee, “Now more than…

  • Economy and Society: Congressional hearing puts focus on ESG opposition

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    ESG developments this week In Washington, D.C. Congressional hearing puts focus on ESG opposition On February 25, the House Subcommittee on Investor Protection, Entrepreneurship and Capital Markets held a hearing titled “Climate Change and Social Responsibility: Helping Corporate Boards and Investors Make Decisions for a Sustainable World”. According to S&P Global Market Intelligence, the virtual…

  • Economy and Society: Yellin announces US role to address climate change through financial structures

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    ESG developments this week In Washington, D.C. Yellin announces US role to address climate change through financial structures  Two weeks ago, Treasury Secretary and former Fed Chair Janet Yellen told a virtual meeting of G7 finance ministers and central bankers that the United States intends to play a significant role in addressing perceived climate change…