Last week, Fitch Ratings announced the launch of new ESG ratings system, which is intended to use a "clear methodolog[y]," of a "full assessment of ESG performance" that "allow[s] for detailed comparability." This...more
Earlier this week, Vermont became the latest state to file a lawsuit against the major oil companies featuring allegations focusing on climate change. This is simply the most recent of more than two dozen lawsuits that have...more
In yet another front of the multifaceted government campaign against climate change, the House Oversight Committee is now investigating the major oil companies and the principal fossil fuel industry lobbying groups for...more
Yesterday, SEC Chairman Gensler testified before the Senate Committee on Banking, Housing, and Urban Affairs. His remarks were wide-ranging, and touched on a number of different subjects, but importantly he re-affirmed the...more
There are many aspects to the changing regulatory landscape as the U.S. government (and other authorities) increase their focus on climate change and adopt policies and regulations designed to presumably steer the private...more
The Wall Street Journal has reported on a government investigation into DWS, an entity that is majority-owned by Deutschebank, in connection with potential misrepresentations concerning the ESG investing strategy disclosed by...more
The SEC recently approved two proposals by NASDAQ concerning board diversity. Specifically, the proposals would "require each Nasdaq listed company, subject to certain exceptions, to publicly disclose . . . information on...more
8/10/2021
/ Board of Directors ,
Disclosure Requirements ,
Diversity ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Gender Identity ,
LGBTQ ,
Nasdaq ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Transparency
On August 9, 2021, the IPCC released its Sixth Assessment Report (https://www.ipcc.ch/report/ar6/wg1/#SPM), which emphasized the dangers of climate change, and that many of the risks associated with climate change are now...more
Over the past several years, a number of municipalities and other public sector actors have launched a series of lawsuits against the fossil fuel industry, seeking to hold individual companies liable for damages (or expected...more
In a speech yesterday in a webinar hosted by the Principles for Responsible Investment, SEC Chairman Gensler offered additional clarity on his thoughts concerning mandatory disclosures about climate risk.
First,...more
Yesterday, SEC Commissioner Pierce--one of two Republicans serving as an SEC Commissioner--delivered a speech criticizing the "potential ESG rulemaking."...more
On Friday, SEC Chairman Gensler announced the appointment of five lawyers to his policy staff. Among them is one individual--Mika Morse, who previously worked for Senator Brian Schatz (D-Hawaii)--with the title of "climate...more
Last week, one of the primary topics at the July 7th meeting of the SEC's Asset Management Advisory Committee was ESG disclosures. Indeed, according to the discussion draft of the relevant subcommittee, certain specific...more
Today, the EU released a plan to combat climate change through reducing emissions. Significantly, key elements of this plan include increasing the costs on businesses whose activities contribute to climate change, even when...more
In recent remarks delivered by Commissioner Lee at the Society for Corporate Governance, she took the opportunity to again focus on the risks posed by ESG issues, particularly climate change, and how these particular matters...more
SEC Commissioner Roisman, one of the two Republicans currently serving as SEC commissioners, has questioned over the past few months the SEC's new focus on mandatory ESG disclosures, particularly those focused on climate...more
During his remarks at London City Week, SEC Chairman Gensler again highlighted the SEC's new focus on climate change disclosures. Specifically, Chairman Gensler identified climate change disclosures as his top priority, and...more
The past several years has seen growing attention on climate change disclosures and other environmental, social, and governance (“ESG”) issues. In 2016, a variety of universities faced pressure as student bodies demanded...more
The House of Representatives recently passed a bill--albeit by the narrowest of majorities--that would mandate that companies provide shareholders "information about employee and executive pay, political spending, climate...more
Following the meeting of G7 leaders in Cornwall, a joint communique was issued on June 13, 2021 concerning many issues of common interest, including climate change....more