Michael W. Frerichs of the Illinois State Treasurer’s Office has released the 2019 Annual Sustainable Investment Report. An excerpt: – Passage of the Illinois Sustainable Investing Act – Spearheaded by Treasurer Frerichs, Illinois became the first state in the nation to pass a law establishing a framework for public fund managers to integrate sustainability factors in their…
DOL Proposal to Weaken Fiduciary Standards
Fact sheet from the Consumer Federation of America: On June 29th, the Trump Administration rolled out a new regulatory package for retirement investment advice that, if finalized, would allow brokers and insurers to siphon billions of dollars a year out of the retirement accounts of hard-working Americans, putting their ability to afford an independent and…
SEC Report: U.S. Investors’ Exposure to Domestic Chinese Issuers
The accounting fraud at Lukin Coffee is just the latest reason to raise concerns about investment risks in Chinese companies. The SEC has issued a new report that includes the exposure of the biggest pension funds in the UA. Excerpts here (footnotes omitted), full report below. More than 150 China-based companies with a combined market…
Climate Change Is a Business Risk – MarketWatch
A new report from Ceres, a global sustainability nonprofit where I serve on the board, describes the systemic threat that climate change poses to financial markets. The impacts—storms, wildfires, rising sea levels, and more—are multiplying, intensifying, and combining in ways that affect asset valuations, public health, worker productivity, and economic stability. The report provides more…
EA Put On Blast By Investor Group Over Huge Payments To Top Executives – GameSpot
Gaming giant Electronic Arts has been put on blast by one of its investors for the lucrative pay packages that the publisher gives to some of its highest-ranking executives. Dieter Waizenegger, the director of The CtW Investment Group, said in a notice that EA has “gone too far in terms of executive pay,” and is…
How Investors Are Addressing Racial Injustice – The New York Times
Socially responsible investing has been putting billions of dollars to work for social change for decades. In some cases, the strategy means avoiding certain sectors. Religious organizations, for instance, steer clear of alcohol, firearms, tobacco and other “sin” stocks. Some investors focus on companies that are already socially responsible to help them thrive, while starving…
Moderna executives sell stock as coronavirus vaccine boosts company shares – The Washington Post
VEA Vice Chair Nell Minow is quoted in this Washington Post story about executive stock sales at a biotech firm working on a COVID-19 vaccine. As shares of biotech firm Moderna soared in May to record highs on news that its novel coronavirus vaccine showed promise in a clinical trial, the nation’s senior securities regulator…
U.S. Department of Labor Proposes New Investment Duties Rule | U.S. Department of Labor
The U.S. Department of Labor today announced a proposed rule that would update and clarify the Department of Labor’s investment duties regulation. The rule is intended to provide clear regulatory guideposts for plan fiduciaries in light of recent trends involving environmental, social and governance (ESG) investing. Periodically over the last 30 years, the Department has…
SEC: The Importance of Disclosure – For Investors, Markets and Our Fight Against COVID-19
Our collective national effort to mitigate the COVID-19 pandemic has caused a deep contraction in vast areas of our economy, with many workers and businesses facing profound challenges. There is broad support for this national, full-mitigation response to COVID-19, but also broad recognition that our strategy must evolve to effectively address the health risks of…
Green bond fund for central banks hits $1bn, says Bank for International Settlements
The Bank for International Settlements (BIS), the Switzerland-based central banking organisation, has announced its green bond fund has hit $1bn since its launch less than a year ago. via Green bond fund for central banks hits $1bn, says Bank for International Settlements
