Corporate Moves
Proposals Against ESG, DEI Set to Increase This Proxy Season
ISS-Corporate research projected how shareholder engagement is likely to change this year.
Tag: anti-ESG
Regulation
House Republicans Characterize ESG as an Anti-Trust Cartel
ESG skeptics allege that the investing strategy is a conspiracy to reduce fossil fuel production.
Pensions
New York City Pension Funds Report Calls 2023 ‘Difficult Year’ for Shareholder Proposals
Climate-related initiatives struggled due to a ‘well-funded backlash’ from conservative interest groups.
Asset Allocation
Oklahoma Retiree Files Injunction to Stop Anti-ESG Bill
The complaint claims the 2022 law not only violates the US and Oklahoma constitutions, but that that the financial costs to the state are ‘monumental.’
Regulation
House Republicans Propose 4 New Anti-ESG Bills
The Education and Workforce Committee adds to prior Republican pushback against ESG investing in retirement plans.
Regulation
Congressional Interest in Proxy Voting Services Escalates
The House Committee on Financial Services held two hearings related to proxy voting on Thursday.
Regulation
Barr Introduces Another Anti-ESG Bill in House
Mirroring language from Trump-era rules, the Ensuring Sound Guidance Act would require that only pecuniary factors be considered by fiduciaries in investment decisions.
Regulation
Republicans, Democrats Continue to Speak Past Each Other on ESG
Future ESG policy is likely to be influenced more by which party is in power than by its actual merits.
Regulation
Kansas Governor Allows Anti-ESG Bill to Become Law
Laura Kelly neither vetoes nor signs bill, permitting its implementation despite ‘reservations about the potential unforeseen consequences.’
Asset Allocation
Anti-ESG Bills Progressing in Kansas, South Carolina Legislatures
The Kansas bill, which has reached the governor, would reduce the state pension by $3.6 billion and cut its funded level by 10%, a fiscal analysis says.
Regulation
Congress Adds Fuel to Anti-ESG Fire
The joint resolution, which President Joe Biden has said he will veto, increases the heat in the U.S. on ESG investing, and asset managers see risks.
Regulation
Congressional Democrats Try to Make DOL ESG Rule the Law
Members of the Sustainable Investment Caucus have proposed legislation that would codify permitting ESG considerations in retirement plan investment.
Newsmakers
Indiana Amends ESG Bill to Exclude Private Markets
Changes mean legislation will cost state pension fund $5.5 million over 10 years instead of $6.7 billion.
Regulation
The ESG Lawsuits Continue
This one, brought in Wisconsin, alleges that the DOL’s rule on ESG unlawfully compromises Americans’ retirement.
Newsmakers
25 States and 3 Fossil Fuel Industry Actors Sue to Block DOL Rule Permitting ESG Investing
The lawsuit seeks an injunction against the rule, set to take effect Monday, which would allow ESG considerations in retirement plan investment decisions.