SEC Chair Gensler on Climate Risk Disclosures

Chair Gary Gensler spoke about upcoming SEC guidance on climate Risk to the Principles for Responsible Investment (emphasis added): Washington D.C. July 28, 2021 Thank you, Fiona, for the kind introduction. It’s good to be here with the Principles for Responsible Investment. As is customary, I’d like to note my views are my own, and…

The Risks of “Carbon-washing”

New scholarship from Soh Young In, PhD and Kim Schumacher, PhD identifies the risks of “greenwashing” and some proposals to minimize it.

Agenda – ISS Probes Boards’ Climate Risk Oversight

Proxy advisor Institutional Shareholder Services today said it is gathering views on the “minimum criteria for boards” in overseeing climate risk. Currently, the proxy advisor may issue adverse voting recommendations for director reelections if board members displayed “demonstrably poor risk oversight of environmental and social issues, including climate change.” It appears with this latest round…

Larry Fink: Moving from Ambition to Action on Climate Change

Blackrock CEO Larry Fink calls on shareholders to make sure their portfolio companies take action on climate change in a speech after the G20 at the International Conference on Climate, hosted by the Italian Ministry of Economy and Finance and the Bank of Italy in Venice on Sunday, July 11. He emphasized the need to…

Activist Shareholders Score Wins on Election Spending After Riot

“Increased political polarization, the 2020 Election, and the January 6th attack on the Capitol, have shown companies that spending corporate dollars on political causes is risky business,” [Thomas] DiNapoli said in a statement to Bloomberg Law. The trend is expected to continue as activist shareholders vow to make sure that companies stay true to their…

Global Climate and Sustainability Reporting Continues to Grow

The momentum toward universal mandatory reporting and disclosure on climate risk and sustainability has gained additional strength with recent developments at the international, domestic and state levels. These steps follow years of calls from investors for standardized and comparable climate-related disclosures. International. In June, the G7 Finance Ministers and Central Bank Governors issued a statement…

SEC Commissioner Hester Peirce’s Disingenuous Slant on ESG

SEC Commissioner Hester Pierce, who came to the Commission from the Koch-funded, ultra-anti-regulatory Mercatus Center, the same person who informed the Council of Institutional Investors that their members did not know what it was that investors needed, is now speaking out against ESG disclosures, in a speech to Brookings. What is especially infuriating about Pierce…

Agenda – ‘Egregious and Brazen’ – Former CEO Arrested

Former FTE Networks CEO Michael Palleschi was arrested in New York for what authorities claim was a “years-long scheme to inflate FTE’s revenue, to conceal liabilities and expenses, and to embezzle company funds.” The company’s former chief financial officer, David Lethem, was arrested in Florida on the same charges. The pair of former executives was…