UN-ESG

More than 100 Groups and Leaders Back Resolution to Stop ESG Investing for U.S. Retirement Plans

February 08, 2023

More than 100 conservative leaders and groups are backing a new resolution whose goal is to terminate President Biden’s Department of Labor rule that allows retirement plan managers to factor environment, social and governance (ESG) issues into investment decisions, raising concerns that 152 million Americans retirement savings are being politicized.
House Financial Services Committee Announces ESG Working Group

February 06, 2023

The House Financial Services Committee, led by Patrick McHenry (R-NC), has announced a new working group to address environmental, social, and governance proposals (ESG) including the recent Securities and Exchange Commission’s (SEC) move to mandate climate impact disclosures.
Republican Lawmakers to Reintroduce Legislation Cancelling the DOL's ESG Rule

February 03, 2023

In a news release this week, every Senate Republican, along with Sen. Joe Manchin, D-W.V., and Rep. Andy Barr, R-Ky have announced that a joint resolution will be reintroduced in the Senate and House that would nullify the Department of Labor's new rule permitting retirement plan fiduciaries to consider climate change and other environmental, social and governance (ESG) factors when selecting investments and exercising shareholder rights.
New Global Commission Launched to Raise Mining Sustainability Standards

February 01, 2023

The Global Investor Commission on Mining 2030 was launched at the London Stock Exchange with the goal of reforming the mining sector for the low carbon transition by 2030 and is backed by the Church of England Pensions Board (CEPB) and advised by the United Nations Environment Programme.
PwC: The CEO’s ESG dilemma

January 25, 2023

A recent PwC survey highlights the predicament facing CEO’s as a large majority of global investors placed ESG-related outcomes among their top five priorities for business to deliver but 81% would accept only a 1 percentage point or smaller reduction in returns to advance ESG objectives.
Gramm and Peirce: SEC's Attempt to Supplant the Market

January 20, 2023

Phil Gramm and Hester Peirce argue in the Wall Street Journal that the Security and Exchange Commission (SEC) is attempting to supplant the market as it seeks to induce private companies to take steps to achieve social goals rather than serve it’s main purpose of combating fraud or encouraging market integrity.
AGs Pressure Advisory Firms to Ditch ESG

January 19, 2023

Proxy advisory firms received a letter from twenty-one state attorneys general providing evidence of the firms possible violations of their fiduciary duty concerning their use of Environmental Social and Governance (ESG) criteria while issuing counsel to state investment agents.
Moore: Biden's New ESG Investment Rule Puts Retirement Savings in Jeopardy

January 18, 2023

Expert and Author Stephen Moore explores how President Biden’s Labor Department’s new rule allowing retirement fund managers to select stocks of companies based on their positions on social and environmental issues (ESG), not on which companies give the best return on investment puts citizens retirement savings in danger.
Vanguard Grows Business After Shunning ESG

January 17, 2023

According to Morningstar Inc. Vanguard was the sole exchange-traded fund provider of the industry’s top five firms to see its European business grow last year due to, in large part, « its minimal exposure to ESG ».
Wharton Creates New ESG Major

January 11, 2023

Wharton’s School of Business has just launched a new Major called Environmental, Social and Governance Factors for Business, causing concern that the campus will become a mouthpiece for ESG’s one sided view of business and capitalism.