Apple Calls for Mandatory Climate Reporting – ESG Today

Tech giant Apple has come out in support of mandatory climate disclosures for companies, issuing a call on the U.S. Securities and Exchange Commission (SEC) to require consistent, audited emissions reporting. Apple Global Head of Environmental and Energy Policy Arvin Ganesan issued a statement today, highlighting the centrality of transparency by companies in the fights…

Federal Court Dismisses Derivative Complaint Seeking to Impose ESG Initiatives on a Public Company

In the past year, there has been a concerted effort by certain plaintiff firms to weaponize environmental, social, and governance (“ESG”) principles to attack corporate boards. On March 19, 2021, the United States District Court for the Northern District of California in Ocegueda v. Zuckerberg, Ca. No. 3:20-cv-04444-LB (N.D. Cal. Mar. 19, 2021), struck a blow against these efforts by…

The Growing Perils of Corporate Political Involvement

Corporations are having a tough time navigating the pressure from all sides on political statements, including campaign contributions, as it is increasingly difficult to avoid offending a substantial number of customers, employees, or investors. Judd Legum continues to track corporate promises — and broken promises — about political contributions. And a number of other articles…

Companies Agree to Support Paris-Aligned Climate Policy | ICCR

Building on the groundbreaking majority vote in support of a proposal on climate lobbying at Chevron’s 2020 annual meeting, investor members of the Interfaith Center on Corporate Responsibility are announcing agreements reached with five companies on similar proposals requesting a report on if and how the companies’ lobbying activities (direct and through trade associations) align…

The Powerful New Financial Argument for Fossil-Fuel Divestment | The New Yorker

In a few months, a small British financial think tank will mark the tenth anniversary of the publication of a landmark research report that helped launch the global fossil-fuel-divestment movement. As that celebration takes place, another seminal report—this one obtained under the Freedom of Information Act from the world’s largest investment house—closes the loop on one…

Toomey Presses SEC on New Climate Enforcement Task Force | United States Committee on Banking, Housing, and Urban Affairs

U.S. Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) wants more information from the U.S. Securities and Exchange Commission (SEC) about its recently announced climate and environmental, social, and governance (ESG) enforcement task force. In a letter to Acting Chair Allison Herren Lee, Senator Toomey wrote: “These announcements appear to presage major changes in longstanding…

ESGs, sustainable investing are not as green as touted, investor says

Tariq Fancy has some dire warnings about the disconnect between ESG rhetoric and reality in USA Today, concluding, “We’re running out of time and need to accept the truth: To fix our system and curb a growing disaster, we need government to fix the rules.” The financial services industry is duping the American public with…