News & Analysis as of

Environmental Social & Governance (ESG) Trump Administration

Seyfarth Shaw LLP

So, How Can Participants Invest Their Retirement Money?

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Under the current administration, the Department of Labor has once again changed course on its view of permissible investing strategies for retirement plans, warming to crypto and private equity, and confirming their distrust...more

McDermott Will & Emery

Canaries and coal mines, US insurers and climate change

McDermott Will & Emery on

Canaries are the most familiar of “sentinel species” – animals (and plants) that can alert us to threats to human health and the environment. Those who know their mining history also know that canaries were first used in...more

Keating Muething & Klekamp PLL

Securities Snapshot: 2nd Quarter 2025

AI Claims, Executive Pay, and a New SEC Playbook - While summer temperatures continue to sizzle, things cooled considerably at the SEC in the second quarter of 2025. In this Snapshot, we examine Chairman Paul Atkins’...more

Latham & Watkins LLP

US Government Reopens Discussion of Private Pension Investments Expectations

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The Department of Labor has taken two recent actions that indicate where the approach to retirement investment policy may go under the new administration....more

Morgan Lewis - ML Benefits

US Administration Announces Intent to Replace Biden-Era ESG Rule

The US Department of Labor’s (DOL’s) position on the appropriateness of environmental, social, and governance (ESG) investing strategies in ERISA-regulated retirement plans has ping-ponged for decades (as we’ve covered...more

Mintz

Trump Administration SEC Withdraws Proposed Anti-Greenwashing Rule

Mintz on

On June 17, the SEC officially withdrew a proposed rulemaking undertaken by the Biden Administration that sought to combat greenwashing in ESG (or similarly labeled funds). Specifically, the proposed rule would have...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Here we go again

Here’s the short version: the Department of Labor’s decision to reopen the Biden-era ESG rule is overdue—and welcome....more

Jones Day

SEC Withdraws Proposed ESG Disclosure and Shareholder Submission Rules

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In a significant but not unsurprising policy shift, the U.S. Securities and Exchange Commission (SEC) has announced the withdrawal of proposed rules aimed at enhancing ESG disclosures and modifying shareholder proposal...more

Carlton Fields

One Fell Swoop: SEC Erases Ambitious Gensler-Era Rulemaking Agenda

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On June 12, 2025, the Securities and Exchange Commission issued a release announcing that it was withdrawing 14 notices of proposed rulemaking issued between March 2022 and November 2023 and stating that it “does not intend...more

Mintz

Federal Court Upholds SEC Regulations From First Trump Administration That Discourage Activist (ESG) Investors

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In the first Trump Administration, the Securities and Exchange Commission promulgated certain rules that had the effect of erecting barriers to activist investors seeking to have shareholder proposals--often involving topics...more

Troutman Pepper Locke

ESG Investing in 401(k) Plans – More Rule Changes on the Way

Troutman Pepper Locke on

In our recent client alert, “Texas Federal Court Allows an ERISA Fiduciary Challenge Against Alleged “ESG Investing” Without Any ESG Funds,” we reported that a Texas district court recently upheld Biden-administration...more

DLA Piper

Horizon - ESG Regulatory News and Trends - June 2025

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EPA announces details of its reorganization. On May 2, the EPA announced a major reorganization that will eliminate several key offices, including the Office of Atmospheric Protection (OAP), Office of Air Quality Planning and...more

Ropes & Gray LLP

Trump DOL Withdraws Biden-Era ESG Rule and Crypto Guidance for ERISA Plans

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On May 28, 2025, the U.S. Department of Labor (“DOL”) began to articulate the Trump administration’s retirement policy priorities with its decisions to (i) end its defense of the Biden-era ESG rule in a long-running lawsuit...more

King & Spalding

U.S. Department of Labor Updates: Yes to Crypto and No to ESG?

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On May 28, 2025, the U.S. Department of Labor (“DOL”) provided updated guidance on two employee benefit plan-related investment areas: (1) cryptocurrency and (2) environmental, social, and governance (“ESG”) investing....more

Mintz

Trump Administration Will Replace the Biden Administration's Department of Labor Rule Permitting ESG Investing

Mintz on

3 Under the Biden Administration, the Department of Labor ("DOL") had issued a rule that permitted ESG factors to be considered when making investments on behalf of 401(k) plans. (This rule had replaced an earlier one from...more

Kilpatrick

Trump Admin. Rolls Back Biden-Era Rules on 401(k) Plan Investments: Crypto and ESG

Kilpatrick on

The Trump administration has rescinded (or signaled that it will replace) current guidance that was issued by the Biden administration’s DOL regarding (1) retirement plan investments in cryptocurrencies (and other digital...more

Mintz

Trump Administration Files Statement of Interest Supporting State AG Action Against Asset Managers Accused of ESG-related...

Mintz on

Last week, the Trump Administration's FTC and DOJ (Antitrust Division) filed a statement of interest in support of a lawsuit filed last November by eleven Republican state attorneys-general against three major asset managers...more

McNees Wallace & Nurick LLC

Reframe and Refocus: The Impact of Executive Orders on ESG

After years of building momentum, ESG efforts are now facing increasing scrutiny amid a shifting political landscape. Early in his second term, President Donald Trump’s administration rolled back several key policies, calling...more

Mayer Brown

Unleashing American Energy: Deregulatory Executive Orders

Mayer Brown on

Among other energy-related actions within the first two weeks of April 2025, President Donald Trump signed two executive orders on April 8 and 9 that have the potential to result in significant changes to US federal, state,...more

Fenwick & West LLP

Risk Factor Considerations for Upcoming Form 10-Q

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As companies prepare their Form 10-Q disclosures, it's worth bearing in mind a number of special considerations amid the current economic and political environment....more

DLA Piper

Horizon - ESG Regulatory News and Trends - April 2025

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Trump Administration actions - Trump orders DOJ to stop states from enforcing unconstitutional or preempted climate laws. In a sweeping Executive Order (EO) issued on April 8, President Donald Trump has ordered Attorney...more

Carlton Fields

DOL ESG Rule Withstands Demolition of Chevron Deference

Carlton Fields on

In Loper Bright Enterprises v. Raimondo, the U.S. Supreme Court knocked down Chevron U.S.A. Inc. v. Natural Resources Defense Council Inc., leaving the doctrine of Chevron deference in rubble. The doctrine stated that, when a...more

Baker Donelson

Red Tape or Green Future? Unpacking California's Climate Disclosure Laws and the Pushback

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As the federal government works to roll back climate regulations and climate-focused initiatives, states are developing avenues to fill in the gaps left behind. In 2024, the Securities and Exchange Commission (SEC) adopted...more

Stradling Yocca Carlson & Rauth

The SEC’s Enforcement Program Under President Trump’s Second Administration: What Can We Expect

Al Tierney, a partner in Stradling’s SEC enforcement practice, recently authored the article, “The SEC’s Enforcement Program Under President Trump’s Second Administration: What Can We Expect” for the OC Lawyer. With Paul...more

Goodwin

SEC Disclosure and Proxy Matters Under the Trump Administration

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Public companies are revisiting their disclosures to keep up with recent EOs and SEC developments this proxy season....more

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