DOL/EBSA ESG Rules Challenged in Court

The new DOL/EBSA rules allowing ESG investments and reiterating the fiduciary obligation of exercising share ownership rights, including proxy voting, is being challenged in court by 25 Republican Attorneys General and fossil fuel companies. The rule was set to take effect January 30, 2023. The lawsuit, filed in the U.S. District Court for the Northern District of…

Global Investor Survey 2022 | ESG Execution Gap | PwC

Unsurprisingly, we found that investors want companies to keep a sharp focus on innovation and financial performance. They ranked those as their two highest priorities for business, with reduction in greenhouse gas emissions coming lower. Over the next five years, however, investors expect the threats stemming from climate change and cyber (including hacking and disinformation)…

Larry Fink says ESG narrative has become ugly, personal | Pensions & Investments

BlackRock CEO Larry Fink said the narrative around ESG investing has become ugly and is creating “huge polarization.” “I’m taking this very seriously,” Mr. Fink said in an interview with Bloomberg TV at the World Economic Forum in Davos. “We are trying to address the misconceptions. It’s hard because it’s not business any more, they’re…

A Solution Is in Sight for the ESG Controversy – WSJ

Despite the outrageous slant of this opinion piece from “anti-woke”: Vivek Ramaswamy (somehow only the other side “claims” while anti-ESGers somehow know), he is right about one thing: transparency is always beneficial to robust market responses. He says, “Lawmakers concerned about the use of ESG in capital markets need not ban it. They can simply…

A baker’s dozen of shareable studies that make the case for ESG – ImpactAlpha

Ryon Harms writes about the data rebutting anti-ESG claims. Despite relentless attacks from anti-ESG operatives, companies and investors are expected to significantly grow commitments to sustainability and diversity. Here are 13 recent studies to share with clients and colleagues that demonstrate the power of ESG investments to drive positive returns and reduce risk. A baker’s…

The Top 15 Anticipated ESG-Related Considerations That Will Influence Strategy in 2023

The predictions of Dan Romito, Pickering Energy Partners include increased disclosure from public companies and their private company connections, more ESG-focused shareholder proposals, more focus on water issues along the lines of climate change issues, advancement of offsets, Scope 3 disclosures, the US leaning toward Europe’s sustainable finance disclosures, greater focus on climate metrics in credit…

Activist investor Bluebell targets BlackRock for inadequate ESG — Reuters

Tiny activist investor Bluebell Capital Partners is taking aim at BlackRock (BLK.N) and wants to replace longtime CEO Larry Fink, criticizing the world’s largest asset manager as being inconsistent in its focus on environmental, social and corporate governance (ESG) issues. Bluebell, with roughly $250 million in assets, said BlackRock, which invests over $8 trillion, and…

What do ESG Advocates and Foes Have in Common

A provocative essay by Peter Vanham at Fortune: What do an environmentally-minded activist investor and an anti-ESG activist investor have in common? More than you would think, if Bluebell and Strive are examples to go by. Both firms made headlines this week. London-based Bluebell demanded several governance changes at BlackRock, including a replacement of CEO Larry…