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Join the Securities Litigation and Enforcement Group on LinkedInCan ESG-Motivated Company Actions Lead to Corporate and Securities Litigation? | The D&O Diary
ESG is a hot topic. There is a general perception in certain circles – including the D&O insurance community — that ESG awareness and activism are essential attributes of good corporate citizenship. There is even a perception in certain parts of the D&O insurance community that strong ESG credentials makes individual companies better D&O risks. […]
The SEC’s Authority to Pursue Climate-Related Disclosure
On behalf of the 30 undersigned law professors, all of whom teach and write on U.S. securities law and capital markets regulation, we welcome the opportunity to provide our views on the Commission’s recent proposal related to the enhancement and standardization of climate-related disclosures for investors (the “Proposal”). We focus on a single question—whether the […]
What’s “Controversial” About ESG? A Theory of Compelled Commercial Speech under the First Amendment
The SEC’s proposed climate disclosure rules create an opportunity to reflect on the limits that the First Amendment places upon securities regulation. As regular readers of this blog know, the SEC has proposed rules to make companies disclose their “climate risks” along with their greenhouse gas (“GHG”) emissions and certain climate-related financial metrics. Unlike existing […]
Investors Are Increasingly Skeptical of ESG. This Is Why – Bloomberg
ESG has become a punching bag for the far right, for disgruntled corporate executives and even industry insiders. But there’s one group whose growing disapproval might be the ultimate game changer. Retail investors are slowly starting to look under the hood of the $40 trillion environmental, social and governance industry that’s increasingly steering their savings, […]
ESG Task Force “Lifts the Vale” on Its Scrutiny of ESG Disclosures
The SEC’s approach to the Vale litigation provides a roadmap for public companies to consider how ESG-related disclosures and statements will be scrutinized when the company is impacted by adverse events that are ESG-related. It illustrates that companies should be prepared for the SEC to closely scrutinize statements about risk in ESG disclosures such as […]
The ESG Bubble Is About to Burst. Good Riddance. – Bloomberg
In these uncertain times we need more shared experiences, even if they include offensive TV, tedious workdays and coping with a volatile stock market. So if you want to save the world, it’s better to buy whatever you want, invest in whatever company looks profitable, and work for the employer that pays you the most. […]
SEC Charges BNY Mellon Investment Adviser for Misstatements and Omissions Concerning ESG Considerations
The Securities and Exchange Commission today charged BNY Mellon Investment Adviser, Inc. for misstatements and omissions about Environmental, Social, and Governance (ESG) considerations in making investment decisions for certain mutual funds that it managed. To settle the charges, BNY Mellon Investment Adviser agreed to pay a $1.5 million penalty. The SEC’s order finds that, from July […]
The Pushback on E.S.G. Investing – The New York Times
While speaking about energy policy in Texas yesterday, former Vice President Mike Pence, a potential 2024 Republican presidential contender, said he wanted to “rein in” E.S.G., or investing based on environmental, social and governance principles. He is not alone. Some notable names are pushing back as businesses get increasingly tangled up in cultural and political […]
SEC Charges Brazilian Mining Company with Misleading Investors about Safety Prior to Deadly Dam Collapse
“Many investors rely on ESG disclosures like those contained in Vale’s annual Sustainability Reports and other public filings to make informed investment decisions,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement. “By allegedly manipulating those disclosures, Vale compounded the social and environmental harm caused by the Brumadinho dam’s tragic collapse and undermined […]
May 5 Webcast — “Sustainable” Private Equity: An In-Depth Look at ESG Trends and Challenges
Please join Rodolfo Araujo, Christopher DeSa, Jessica Monson and Danielle Reyes for this free webcast.