Taginvestigation

Louisiana attorney general launches ESG investigation

By James McAllister
In State
May 5, 2023 at 4:48 PM

Louisiana Attorney General Jeff Landry (R) launched an investigation on April 25 into Climate Action 100+, which describes itself as “an investor-led initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change.” Landry’s office says the investigation seeks to determine whether some asset management companies that are part of the initiative have violated their fiduciary duties by focusing on ESG investment factors. According to the Washington Examiner:

“Landry’s office on Tuesday announced a ‘multi-pronged’ effort focusing on the Climate Action 100+ Steering Committee, specifically scrutinizing Franklin Templeton and the California Public Employees’ Retirement System. The investigation will look into whether the groups breached their obligations to investors by prioritizing climate initiatives. …

“‘ESG investing puts politics over people and raises significant concerns that companies guided by these green-energy fantasies may be engaging in unfair and deceptive practices that harm Louisiana consumers,’ Landry said, according to the Washington Times. ‘Franklin Templeton is deeply embedded in Climate Action 100+; and we are troubled that, by focusing on the radical ESG agenda, it may be violating its fiduciary duties to shareholders in our state.’ …

“Franklin Templeton has some $1.5 trillion in assets under management, while CalPERS, the country’s largest public pension fund, had more than $440 billion in assets under management as of last year.

“Last year, congressional Republicans, led by Rep. Jim Jordan (R-OH), sent a letter sent to executives of the steering committee for Climate Action 100+ demanding documents that show the group’s network of influence. In the letter, they said the coalition ‘seems to work like a cartel to ‘ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change.’'”

Ballotpedia tracks support for and opposition to the environmental, social, and corporate governance (ESG) investing movement. To learn more about arguments for, against, and about ESG, click here. For more information on reform proposals related to ESG policy, click here.



Office of Information and Regulatory Affairs reviewed 48 significant rules in September

By Caitlin Styrsky
In Federal
October 5, 2020 at 7:53 PM
Image of the south facade of the White House.

The White House Office of Information and Regulatory Affairs (OIRA) reviewed a total of 48 significant regulatory actions issued by federal agencies in September 2020. The agency approved four rules without changes and approved the intent of 42 rules while recommending changes to their content. Agencies withdrew two rules from the review process.

OIRA reviewed 42 significant regulatory actions in September 2019, 21 significant regulatory actions in September 2018, and 16 significant regulatory actions in September 2017. During the Obama administration from 2009-2016, OIRA reviewed an average of 45 significant regulatory actions each September.

OIRA has reviewed a total of 475 significant rules so far in 2020. The agency reviewed a total of 475 significant rules in 2019, 355 significant rules in 2018, and 237 significant rules in 2017.

As of October 2, 2020, OIRA’s website listed 125 regulatory actions under review.

OIRA is responsible for reviewing and coordinating what it deems to be all significant regulatory actions made by federal agencies, with the exception of independent federal agencies. Significant regulatory actions include agency rules that have had or may have a large impact on the economy, environment, public health, or state and local governments and communities. These regulatory actions may also conflict with other regulations or with the priorities of the president.

Every month, Ballotpedia compiles information about regulatory reviews conducted by OIRA. To view this project, visit:

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