This process is already happening in Europe and the U.K. The Securities and Exchange Commission is following suit by proposing new rules that would require public companies to provide detailed reporting of their climate-related risks, emissions and net-zero transition plans. This is the tomorrow war that the ESG opposition needs to start waging today, rather than picking a personal and political fight with Mr. Fink and BlackRock.
In addition to more legal pushback on the regulatory front, there needs to be greater scrutiny of the undue influence that sustainability-focused nongovernmental organizations such as PRI exert on the financial markets. Specifically, how is it that PRI, a nonprofit registered in England and Wales, is able to dispense ESG-related investment and legal advice in the U.S. and lobby government officials over sustainable-finance regulations?
‘Enforcement 40’ for 2020
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