ESG

Texas Lawmakers Question BlackRock, State Street over ESG Investing

December 20, 2022

Republican lawmakers on the Texas State Committee on State Affairs questioned investment firms BlackRock and State Street on their investment practices based on Environmental, Social and Governance (ESG) policies to ensure that the state’s public pension funds are not being used to further a specific political or social cause.
3 States Continue the Political Fight Against ESG

December 14, 2022

While several state treasury funds have dropped BlackRock and Environmental, Social, and Governance (ESG) investments, Republican leaders have had to continue working to break pension funds free, as politicians in Kentucky, Florida and North Carolina take the lead in the battle.
ESG Investing Takes a blow as Vanguard Withdraws from GFANZ

December 14, 2022

Vanguard has announced that it will leave the woke « net-zero » alliance known as GFANZ whose goal is to force environmental, social, and governance (ESG) policies on the the U.S. economy.
UN Backed Initiative Pressures Companies on Social and Human Rights

December 07, 2022

In an initiative organized by the U.N.-backed Principles for Responsible Investment (PRI), more than 220 investors managing $30 trillion have signed a plan referred to as ‘Advance’ to pressure companies over social issues and human rights.
Florida pulls $2 Billion from BlackRock in Largest Anti-ESG Divestment

December 07, 2022

Florida will pull $2 billion worth of its assets managed by BlackRock Inc due to the state’s opposition to the companies environmental, social and corporate governance (ESG) policies.
Europe’s New Common Reporting Framework Puts Heavy Load on Businesses

December 07, 2022

The European Council has approved the Corporate Sustainability Reporting Directive (CSRD) which will begin January 1, 2024 increasing the amount of information companies are required to report as well as the number of companies themselves which now fall under this regulation, going from 12,000 to an estimated 49,000.
Goldman Sachs Charged by SEC

November 23, 2022

The Securities and Exchange Commission (SEC) has Charged Goldman Sachs Asset Management for Failing to Follow its Policies and Procedures Involving Environmental, Social, Governance (ESG) Investments.
CATO: The Rise of ESG and the Future of Financial Regulation

November 23, 2022

The Cato Institute’s Center for Monetary and Financial Alternatives recently held their summit focusing on the rise of Environmental, Social, and Governance (ESG) policies and how that will affect financial regulation in the future.
Companies and Investors Prepare for ESG enforcement

November 23, 2022

A recent article published in Reuters explores how companies and asset managers are preparing for Environmental, Social, and Governance (ESG) enforcement following the creation of the Climate and ESG Task Force within the Division of Enforcement and the Securities and Exchange Commission (SEC).
Boxerman at Sidley: U.S. SEC Deals With the Shadow of West Virginia v. EPA

November 16, 2022

The U.S. Securities and Exchange Commission (SEC) has missed its self-imposed October deadline for finalizing a new proposed climate rule due to complications following the Supreme Courts decision in West Virginia v. EPA which questions the amount of authority used by the agency without congressional approval.