6/18/24: While anti-ESG legislation has dominated headlines in the United States, few efforts actually succeeded with only 6 out of 161 proposed bills in 28 states prohibiting ESG consideration passed
5/28/24: The U.S. government issued a statement on policies and principles to guide participation in voluntary carbon markets
5/22/24: A legal memo by Jenner & Block LLP finds no basis in law for claims made by 21 Republican state attorneys general that investors considering climate risks or joining climate initiatives (like Climate Action 100+) are violating antitrust laws or their fiduciary duties
5/17/24: Following a court’s pause of Oklahoma's anti-ESG bill, the Oklahoma Public Employees Retirement System has extended its investment contract with BlackRock
5/15/24: Most attorneys surveyed by Bloomberg Law anticipate that the U.S. Securities and Exchange Commission's new climate-related disclosure rule will not survive its legal challenges intact, with many expecting it to be partially overturned or entirely struck down
5/14/24: President Joe Biden has increased tariffs on $18 billion in Chinese imports, including electric vehicles (EVs) and solar cell
5/14/24: The U.S. 5th Circuit Court of Appeals rejected a challenge of the new U.S. Securities and Exchange Commission proxy vote disclosure rule, requiring investment funds to disclose their votes on ESG issues
5/13/24: Twenty-one congressional democrats have issued a letter calling for the SEC to finalize the previously proposed rule to require fund managers with sustainable investments to be more transparent in order to combat greenwashing
5/8/24: An Oklahoma County judge has temporarily halted the enforcement of the Oklahoma Energy Discrimination Act of 2022
5/2/24: If former President Donald Trump were to win a second term, the Securities and Exchange Commission (SEC) under his administration would likely reverse the Commission’s recently issued climate public company disclosure rules, according to sources familiar with the matter
4/16/24: Texas local leaders at a Bond Buyer conference spoke out against two Texas anti-ESG laws restricting the banks with whom municipal issuers can do business due to the banks’ purported energy and firearm policies
4/4/24: The U.S. Securities and Exchange Commission voluntarily stayed its new climate disclosure requirements, pending the resolution of the legal challenges to the rule that are pending in the Eighth Circuit Court of Appeals
4/4/24: JPMorgan Chase, Citi, and RBC have reached an agreement with the New York City Comptroller to publicly disclose the ratio of clean energy to fossil fuel financing.
3/29/24: The Biden administration announced America’s strongest pollution regulations for heavy duty vehicles
3/27/24: Mississippi issued a cease-and-desist order against BlackRock, claiming that the asset management firm made supposedly fraudulent statements and misrepresentations about its ESG strategies
3/15/24: A U.S. appellate court in New Orleans has temporarily stayed the U.S. Security and Exchange Commission’s new climate rules, pending the consideration of the appeal
3/14/24: Experts weigh in on new U.S. Securities and Exchange Commission rules
3/6/24: The U.S. Securities and Exchange Commision requires registrants to disclose board and management oversight and material climate related impacts and risks
3/6/24: The U.S. Securities and Exchange Commission has approved new climate disclosure rules that are less stringent than the initial proposal
3/5/24: The SEC announced that it will be considering its long-anticipated issuer climate disclosure rule at an open meeting this Wednesday, March 6th.
2/6/24: The U.S. Postal Service announced new sustainability targets as part of their Delivering for America plan, with the goal of reducing emissions and waste by 2030
2/22/24: Several U.S. states have introduced anti-ESG legislation and that legislative activity has increased over the past year, with 61 pending anti-ESG bills
2/21/24: New Hampshire, U.S lawmakers have rejected two bills, SB 520 and HB 1267, aimed at limiting public institutions like the New Hampshire Retirement System from considering ESG factors in their investment strategies
2/20/24: Unlocking America’s Future recently compiled research demonstrating the detrimental impact that U.S. anti-ESG legislation may have on states and their investments
2/19/24: The California Energy Commission has approved a $1.9 billion investment plan through 2027 to bolster infrastructure for zero emissions vehicles and transportation in the state
1/30/24: UK-based bank Barclays barred from Texas bond market for participation in Net-Zero Banking Alliance
1/30/24: Business coalition sues state of California in attempt to overthrow landmark corporate climate disclosure laws
1/16/24: Republican lawmakers propose legislation that would criminalize the consideration of ESG factors by state funds
1/9/24: The Wall Street Journal Labels ESG as the Newest 'Dirty Word' in Corporate America, with Leaders Preferring Terms Like 'Responsible Business
12/28/23: Biden Administration Grants Louisiana Regulators Authority to Approve Carbon Capture Projects
12/26/23: Biden Administration Proposes Strict Regulations for Hydrogen Producers to Qualify for Clean Hydrogen Tax Credits
12/22/23: Harvard Business Review Article Proposes Framework for Companies to Respond to Anti-ESG Rhetoric
12/21/23: New York State Issues Guidance for Regulated Banking and Mortgage Organizations on Managing Material Financial and Operational Risks from Climate Change
11/28/23: Michigan Governor Whitmer Signs Sweeping Clean Energy and Jobs Act into Law
10/18/23: SEC's Exclusion of ESG from Exam Priorities Doesn't Signal Disregard, Experts Say
10/18/23: Fifth Circuit Court of Appeals Upholds Nasdaq's Board Diversity Rule
10/16/23: Dish Network to Pay First-of-Its-Kind Fine to FCC for Improper Satellite Disposal Near Operational Orbit
10/12/23: Department of Labor Issues Advisory Opinion Supporting Citigroup's Efforts to Diversify 401K Program Managers
10/10/23: California Governor Newsom Signs Groundbreaking Law Promoting Diversity in Venture Capital
10/3/23: Eleventh Circuit Court of Appeals Grants Preliminary Injunction in Fearless Fund Case
10/3/23: Sustainable Investing Supporters Optimistic as Anti-ESG Efforts Face Lukewarm Support and Limited Voter Engagement
9/26/23: Federal Judge in Atlanta Rejects Preliminary Injunction Request to Halt Venture Capital Fund's Consideration of Grants for Black Women-Led Businesses
9/21/23: Texas Federal Judge Dismisses Case Seeking to Overturn Department of Labor's ESG Rule
8/22/23: Biden Administration Reinstates Obama-Era Offshore Drilling Safety
8/15/23: The Securities Industry and Financial Markets Association (SIFMA) has filed a lawsuit challenging Missouri’s Securities Division’s new rule requiring financial firms to obtain client signatures on state-scripted documents before providing advice incorporating social or nonfinancial objectives
8/14/23: Montana Judge Rules in Favor of Young Activists on Constitutional Rights to a Clean Environment
7/25/23: Anti-ESG legislation in U.S. states has faced considerable opposition over the past seven months
7/28/23: The U.S. Federal Energy Regulatory Commission (FERC) has approved a new rule to speed up the connection of energy projects to the power grid
7/26/23: House Republicans introduced a series of bills to restrict the ability of the U.S. capital and financial markets to consider ESG issues in investments
7/6/23: EPA Proposes Revisions to Greenhouse Gas Reporting Program for More Accurate Methane Emission Data
6/5/23: The Biden-Harris Administration has released the U.S. National Clean Hydrogen Strategy and Roadmap, which outlines a comprehensive framework for accelerating clean hydrogen production, use, and storage
5/26/23: Several insurers have left the UN Net-Zero Insurance Alliance as Republican politicians in the US have targeted climate action groups
5/11/23: The U.S. House Committee on Oversight and Accountability held a hearing on ESG this past week
5/11/23: The U.S. Environmental Protection Agency (EPA) has proposed new rules that would significantly reduce the amount of GHG released by power plants
5/2/23: Florida Governor Ron DeSantis signed anti-ESG legislation prioritizing financial returns for state funds and pensions, preventing green bond issuance, and eliminating ESG considerations in state contracts
4/8/23: US Environmental Protection Agency expected to propose new auto pollution limits
3/30/23: Proposed Texas anti-ESG legislation could cost the state’s retirees billions of dollars
3/28/23: Kansas, Wyoming, North Dakota, and Indiana have terminated or significantly watered down anti-ESG bills
3/16/23: Florida Governor announces a coalition of 19 states to oppose the use of ESG factors in government investing
2/10/23: US Securities and Exchange Commission (SEC) considers adjustments to proposed climate risk disclosure rule
1/27/23: New York City requires Uber and Lyft to have a zero-emissions fleet of 100,000 by 2030
1/27/23: Attorneys General from red states sue to block U.S. Department of Labor ESG rule
1/24/23: NYC’s Comptroller and others call on top banks to set stricter 2030 greenhouse gas emissions reduction target
1/17/23: US Federal Reserve releases a “climate risk analysis exercise” for major banks
1/13/23: New York State unveils a new “Cap-and-Invest” program
12/18/22: US Department of Energy (DOE) proposes new energy-efficiency standards
11/22/22: SEC charges investment advisor for not following their ESG policies and procedures
11/10/22: New SEC rules will require more disclosure from mutual funds on ESG issues, executive pay, etc.
10/20/22: Investors try to depoliticize ESG
10/20/22: Anti-ESG legislation chart by state
10/18/22: Missouri pulls $500M out of BlackRock managed pension funds, blaming ESG priority
10/13/22: SEC FAQs about use of DEI by investment advisers
9/28/22: Opinion—Wall Street’s system of ESG investing is really used to maximize shareholder returns
9/1/22: California passes $54 billion climate bill
8/24/22: California to ban sale of new gas cars by 2035
8/17/22: Florida proposes anti-ESG rules
8/12/22: A discussion of scientists’ views on the Inflation Reduction Act's climate provisions
8/9/22: 19 states attack Blackrock for focusing on sustainable investing
8/8/22: An analysis of the Inflation Reducation Act’s impact on climate change
8/3/22: Missouri AG investigates Morningstar for its ESG ratings
7/29/22: West Virginia bans banks from doing business with state because their reduced financing of coal
7/13/22: U.S. SEC amends rules rescinding certain requirements imposed on proxy advisory firms and investment advisers
7/13/22: U.S. SEC proposes new amendments clarifying when corporations can exclude shareholder proposals
7/12/22: Discussion on how Texas’s anti-ESG law drives down competition and results in higher costs
7/1/22: Possible ways forward for environmental regulation despite the U.S. Supreme Court’s decision in West Virginia v. EPA
6/30/22: US Supreme Court restricts the Environmental Protection Agency’s ability to combat climate change
6/17/22: Business Roundtable comes out against the SEC’s proposed climate disclosure rule
6/17/22: Comment letter from a bipartisan group of securities experts on why the SEC has the legal authority to require public company climate disclosures
6/10/22: SEC’s ESG enforcement task force at work
6/3/22: New New York law that would ban crypto mining that runs on carbon sources
5/28/22: Texas pressures banks who “discriminate” against guns
5/25/22: The SEC unveils fund names and fund disclosure rules
5/23/22: SEC alleges that the Firm did not always do the ESG quality review on its investments
5/16/22 & 5/20/22: Articles providing overviews of the polarization/politicization of ESG
https://nymag.com/intelligencer/2022/05/how-red-states-are-trying-to-snuff-out-green-investing.html
https://www.bloomberg.com/news/articles/2022-05-20/why-esg-investing-is-under-republican-attack
5/16/22: California court holds that a state law mandating California companies to include women on boards is unconstitutional
4/20/22: Texas to punish financial services companies who move away from fossil fuels
4/4/22: Congressional Research Service report on how climate change may effect the US economy
3/21/22: Opposing views from SEC commissioners on the proposed public company climate disclosure rule:
3/21/22: SEC proposes public company climate risk and greenhouse gas disclosure rules
11/17/21: SEC has passes universal proxy director candidate requirement
8/10/21: SEC approves Nasdaq’s board diversity rule
3/15/21: Outline of the SEC’s ESG efforts in the first quarter of 2021
