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Environmental Social & Governance (ESG) Asset Management Today's Popular Updates

Cooley LLP

Antitrust Scrutiny of the ‘Big Three’ Asset Managers’ ESG Policies Heats Up

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As noted in this WSJ article, the Department of Justice and Federal Trade Commission recently raised concerns in a “joint statement of interest” that large asset managers – including the “Big Three” of BlackRock, Vanguard and...more

Axinn, Veltrop & Harkrider LLP

The Texas v. Blackrock ESG Case: The FTC and DOJ Have Entered the Chat

On May 22nd, the Department of Justice (“DOJ”) and Federal Trade Commission (“FTC”) filed a joint Statement of Interest in a case against several prominent asset managers brought last year by the Texas Attorney General. In...more

Troutman Pepper Locke

Texas Federal Court Allows an ERISA Fiduciary Challenge Against Alleged "ESG Investing" Without Any ESG Funds

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On January 10, 2025, in Spence v. American Airlines, a federal district court in Texas ruled that American Airlines (the company) and the committee overseeing its 401(k) plans (the committee) breached their duty of loyalty...more

Proskauer Rose LLP

Regulation Round Up - February 2025

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Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more

Ropes & Gray LLP

Ropes & Gray’s Investment Management Update October – November 2024

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The following summarizes recent legal developments of note affecting the mutual fund/investment management industry. On October 21, 2024, the SEC Division of Examinations (“EXAMS”) published its annual Examination Priorities...more

Goodwin

A New Sustainable Investment Framework for the EU? ESMA’s Latest Opinion

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Those who have had to navigate and consider the EU Sustainable Finance Disclosure Regulation (SFDR) have faced its challenges and noted its deficiencies. Specifically, these have included data gaps, the SFDR’s use as a...more

Mintz

SEC Commissioner Peirce Critiques ESG Reporting Frameworks

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2 SEC Commissioner Peirce recently delivered a speech where she extensively criticized the recent emphasis on ESG among businesses, in particular the proliferation of mandatory ESG reporting frameworks. According to...more

Proskauer - Private Market Talks Podcast

[Podcast] Private Market Talks Episode 9: Demystifying ESG Benchmarking with Novata’s Alex Friedman

In this episode of Private Market Talks, CEO and co-founder of Novata, Alex Friedman helps contextualize the evolving conversation around ESG and demystifies how companies and their investors assess ESG compliance and goals....more

Cadwalader, Wickersham & Taft LLP

EU-Based Asset Managers Press J-Power on GHG Emissions Targets and Disclosures, Signaling Shift in Focus to Japan

In May 2023, the shareholder advocacy group Australasian Centre for Corporate Responsibility (ACCR), HSBC Global Asset Management (UK) Limited and Amundi Asset Management filed shareholder resolutions pressing Japanese power...more

Cadwalader, Wickersham & Taft LLP

Republican AGs Target 53 Large Asset Managers' ESG Practices

On March 30, 2023, 21 Republican Attorneys General (AGs) wrote a letter addressed to over 50 U.S. asset managers citing “concerns about the ongoing agreements between asset managers to use Americans’ savings to push political...more

Cadwalader, Wickersham & Taft LLP

Launch of State Alliance Against “ESG Investing”

On March 16, 2023 the Republican governors of 19 states announced an alliance led by Florida Governor Ron DeSantis, to “push back against President Biden’s environmental, social, corporate governance (ESG) agenda that is...more

Cadwalader, Wickersham & Taft LLP

ESG Ratings: A Call for Greater Transparency and Precision

In early 2022, the ESG ratings industry attracted attention when electric vehicle manufacturer Tesla Inc. was dropped from the S&P 500 ESG Index.  Explaining its decision, S&P cited perceived deficiencies in many ESG areas,...more

Goodwin

FCA ESG Rules: The Next Deadline for U.K. Private Fund Managers

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In our previous client alert, Back to Work: The FCA's 2022-23 Priorities for Private Fund Managers, we mentioned the need for FCA-authorised private fund managers with assets under management (AuM) of over £5 billion and who...more

Proskauer - Blockchain and the Law

ESG Issues and Opportunities Arise as Companies and Asset Managers Hone in on Blockchain-Based Technology Investments

Beyond the wider adoption of cryptocurrencies by consumers in recent years, companies and organizations have also shown increased interest in crypto-assets in the past year. A myriad of industries, from sports to fashion to...more

Cadwalader, Wickersham & Taft LLP

What’s in a Name?: “Defense Stocks” Highlight the Challenges for Asset Managers in Navigating Sustainability Taxonomies as They...

It is hardly news that ESG investing is a significant aspect of the asset management industry.  According to Barron’s, $400 billion was invested in U.S. mutual funds and assets that have an ESG orientation in 2021.  However,...more

Cadwalader, Wickersham & Taft LLP

“Climate Risk Is Investment Risk”: The Asset Management Industry Confronts The Challenges and Opportunities Presented By Climate...

Introduction - The asset management industry has been sounding the alarm for some time about the risks and opportunities posed by climate change.  While private equity giant, Carlyle, is the most recent financial institution...more

King & Spalding

Big Three Investors Announce 2020 Priorities

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BlackRock, Vanguard, and State Street Global Advisors are the world’s three largest asset managers, collectively representing over $16 trillion in AUM, including 81% of all ETF assets. These “Big Three” investors collectively...more

White & Case LLP

Financial institutions M&A: Sector trends - February 2020: Asset/Wealth Management

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Financial institutions M&A sector trends: asset/wealth management — H2 2019 and outlook for 2020 - Industry consolidation continues at pace. Rigorous fee transparency requirements under MiFID II, rising operating costs and...more

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