Dec 9 2022 #assurance, #climate, #compliance, #diversity, #environment, #esg, #human-rights, #investors, #social, #supply-chain
Have Company ESG Surveys Become Meaningless?
It seems like at least once per day, I read about a new survey relating to some aspect of corporate ESG. This includes things like: I’m sure you have seen these too. They come from consultants, audit firms, accounting firms,...
Dec 8 2022 #compliance, #esg, #investors
CEO of ESG Ratings Firm Responds to Sen. Toomey’s Attack
Last month I wrote about a threatening letter from outgoing Senator Pat Toomey to ESG ratings organization Sustainalytics. This was but one ESG rater that received the letter. FoxBusiness reported that similar letters were also sent to MSCI, ISS, Bloomberg,...
Dec 7 2022 #climate, #compliance, #esg, #investors, #supply-chain
How to Avoid ESG Meaning “Too Many Things”
ESGClarity reported on the recent Principles for Responsible Investment (PRI) conference in Barcelona. Among the issues highlighted in the summary of the meeting: “Screening, as an ESG strategy, means too many things to too many people and the confusion is...
Dec 6 2022 #climate, #compliance, #esg, #investors, #supply-chain
SEC Addresses Climate in 2022-2026 Strategic Plan
Last week, the SEC released its Strategic Plan for FY2022 – FY2026. The plan consists of 10 points under three goals: Protect the investing public against fraud, manipulation, and misconduct; Develop and implement a robust regulatory framework that keeps pace...
Dec 5 2022 #esg
Liz Says Goodbye … Almost
Last week my boss and Managing Editor Liz Dunshee announced on TheCorporateCounsel.net that she will soon be moving back to private law practice and spending more time with her family. In her words: After a lot of soul-searching, I have...
Dec 5 2022 #assurance, #climate, #compliance, #esg, #human-rights, #investors, #social, #supply-chain
ESG in the News: Anti-ESG takes root in Florida; Clean Tech’s “S” & “G” risks
Our ESG news roundup for the week of November 28. United States Anti-ESG movement New Department of Labor rule on consideration of ESG in pensions won’t stem anti-ESG movement. State Financial Officers Foundation (SFOF) launches new anti-ESG campaign. Federal Anti-ESG...
Dec 2 2022 #diversity, #equity, #esg, #social
The Re-emergence of the Affirmative Action Debate May Impact Workplaces
You may have seen the topic of affirmative action re-emerge in the last few months as the Supreme Court revisits this controversial issue. Two new cases are now at the forefront of the 50-year-old debate, as the Court continues to...
Dec 1 2022 #climate, #compliance, #esg, #investors, #supply-chain
Webcast Transcript Available for ESG Legal Developments in the EU: “ESG Regulation is an Unknown Unknown”; “The EU is Legislating with Extraterritorial Effect”
The transcript is now posted from our November 9 webcast “ESG Legal Developments in the EU” featuring a panel consisting of: Dr. Marlen Vesper-Gräske, Principal Associate, Freshfields (Berlin) Donato Calace, SVP of Accounts & Innovation, Datamaran (London) Jacquelyn MacLennan, Partner,...
Dec 1 2022 #climate, #compliance, #diversity, #environment, #equity, #esg, #investors, #supply-chain
ESG is No Defense to Antitrust in M&A or Industry Collaborations
Antitrust continues to pose a challenge for companies pursuing sector-wide ESG collaborations. Previously we wrote about how various state Attorneys General were using threats of antitrust enforcement to dissuade companies from taking part in climate pacts. We also wrote about...
Nov 30 2022 #assurance, #climate, #compliance, #environment, #esg, #supply-chain
What a Review of 600 GHG Disclosures Found
Not long ago, the International Federation of Accountants (IFAC) analyzed 600 company GHG disclosures from across the globe. They published the results of their work in this report. Here are what I found to be the major takeaways concerning emissions...
Nov 29 2022 #assurance, #esg, #human-rights, #social, #supply-chain
Social Risk and Workplace Conditions Still Haunt Apparel and Retailers
The Christmas and Hanukkah season is upon us – usually great news for the clothing and retail industries. After all, it’s the time for joyous gifts of socks and ugly sweaters (did you know there is a website dedicated to...
Nov 28 2022 #assurance, #climate, #compliance, #esg, #human-rights, #investors, #social, #supply-chain
ESG in the News: Is slavery loophole in U.S. Constitution closing?; global concern of ESG costs “will hinder” strategy & implementation
ESG news summary for the week of November 21, 2022. United States Anti-ESG movement The man behind anti-ESG politics. Anti-slavery Proposed U.S. Constitutional Amendment would ban use of incarcerated workers. Corporate climate assumptions – fossil fuels New Texas sea port...
Nov 23 2022 #assurance, #compliance, #environment, #esg, #investors
SEC Fines Goldman Sachs for ESG Investment Failures
Ed. note: In observance of Thanksgiving here in the U.S., our offices will close today at noon and reopen Monday. No blogs will be posted Thursday or Friday. Yesterday, the SEC – through its Division of Enforcement’s Climate and ESG...
Nov 22 2022 #assurance, #climate, #compliance, #environment, #investors
COP27 Talks Allowing Countries To Buy Carbon Credits Moves Forward and Sets Precedent
One interesting development that came out of COP27 is that there was movement on making an Article 6 international carbon market a reality. Reuters reported there was meaningful progress but “… talks to establish carbon offset markets to allow countries...
Nov 21 2022 #compliance, #diversity, #equity, #esg, #human-rights, #investors, #social
Microsoft Board Publishes Results of Investigation on Effectiveness of Workplace Sexual Harassment and Gender Discrimination Policies
Last week, Microsoft made public a report on the effectiveness of workplace sexual harassment and gender discrimination policies. This report was initiated as a result of “the Shareholder Resolution that was approved by shareholders at the Company’s annual meeting on...
Nov 18 2022 #climate, #compliance, #diversity, #environment, #equity, #esg, #investors, #social
How to Stay Above the Anti-ESG Movement
With the current turmoil in capital markets, high inflation, geopolitical crises and political winds blowing like a hurricane on ESG, there seems to be a strengthening movement to look for something other than stock price and ESG-focused investment strategies as...
Nov 16 2022 #assurance, #climate, #compliance, #esg, #investors
SEC Releases FY2022 Enforcement Data, Showing ESG Initiative
Yesterday, the SEC released its annual review of enforcement actions and achievements (the detailed data addendum is here). One of the specific areas highlight for enforcement action is ESG: Environmental, social, and governance (ESG) concerns have grown increasingly important to...
Nov 15 2022 #assurance, #climate, #compliance, #esg, #investors
ALERT: EU Parliament Adopts Corporate Sustainability Reporting Directive, Impacting 50,000 Companies Worldwide
Last week the EU Parliament announced the adoption of the Corporate Sustainability Reporting Directive (CSRD). The European Commission (EC) will adopt the first set of standards by June 2023. According to the press release: “To ensure companies are providing reliable...
Nov 14 2022 #climate, #compliance, #environment, #supply-chain
ALERT: US Proposes Government Contractors Disclose GHG Emissions Data
The U.S. government has issued a proposal that is out for public comment. If finalized, it would “amend the Federal Acquisition Regulation (FAR) to implement a requirement to ensure certain Federal contractors disclose their greenhouse gas emissions and climate-related financial...
Nov 10 2022 #climate, #compliance, #diversity, #environment, #equity, #esg, #human-rights, #investors, #social, #supply-chain
Morningstar’s 10 Reasons the Anti-ESG Movement Won’t Stop ESG
Earlier this week, Leslie Norton of Morningstar responded to the anti-ESG trend with her “Top 10” list of why ESG isn’t going away. Norton acknowledged that some criticisms are valid – such as those concerning greenwashing and gaming ESG ratings....
Nov 10 2022 #climate, #compliance, #environment, #esg, #investors
Climate Litigation – Rising Risks and Costs
Climate litigation is on the rise globally, as plaintiffs pursue new and developing legal theories in an effort to reduce global carbon emissions and spur the net zero transition. The Financial Times (subscription required) reported in August that the risk...
Nov 9 2022 #climate, #compliance, #esg, #investors
Threatening Anti-ESG Senatorial Letter Sent to Ratings Organization
Just yesterday, I blogged about letters sent by 5 senators to 51 law firms threatening antitrust legal action against the firms because they offer ESG legal services to clients. Well, today is another note in that same song. Back in...
Nov 8 2022 #climate, #compliance, #environment, #esg, #social, #supply-chain
Five Senators Go After 51 Law Firms, Claiming ESG Services for Clients Violate Antitrust Laws
Thanks to Advisory Board member Rhonda Brauer for forwarding me this news yesterday. Senators Tom Cotton, Chuck Grassley, Marco Rubio, Michael Lee and Marsha Blackburn co-signed a letter to 51 US law firms, accusing them of a “collusive effort to...
Nov 3 2022 #climate, #compliance, #esg, #human-rights, #investors, #supply-chain
New Member-Exclusive Live Webcast Announced – “ESG Legal Developments in the EU and Member States”
We invite PracticalESG.com members to join us next Wednesday – November 9 – for a free “must see” 1-hour webcast. ESG standards/requirements in the EU have been established for some time, but are undergoing a great deal of change. These mandates...
Nov 2 2022 #climate, #compliance, #environment, #esg, #investors
Will US Antitrust Law Doom Climate Pacts?
With COP27 coming up on November 6, many activists and regulators are looking at the pledges and initiatives made as a part of COP26 to see if any measurable progress has been made. One program that grew out of COP26...
Hot Topics
Explore Subject AreasFeatured Events
Dec 13 2022
Webcast
: Improving Your ESG Score
Unlock the full picture
With a CCRcorp Membership, you get access to unique resources, insights, articles and discussion related to the law and environment.
Learn More
Featured Q&A Members Only
Private SMEs and ESG
How are private SMEs thinking about ESG disclosures when the same ‘pressures’ from investors, or public markets or regulators may not be as pressing and given size/limited resources/other priorities figuring out what to focus on can be more challenging. What frameworks are companies using? How are they choosing what to prioritize vs. not?
06/7/2022, Question #9845
Sustainability report as additional soliciting material?
Pubco plans to send a copy of its 2021 sustainability (ESG) report to its stockholders with its proxy statement and annual report. The sustainability report is a stand-alone document discussing ESG matters that is posted on pubco’s website, and does not reference the annual meeting or the solicitation of proxies. Do you think the sustainability report would be considered additional soliciting material under Reg. 14A (and thus need to be filed with the SEC)? The definition of “solicitation” under Rule 14a-1 picks ups “communications to security holders under circumstances reasonably calculated to result in the procurement, withholding or revocation of a proxy.” The sustainability report itself does not purport to solicit proxies – I guess the real question is whether its delivery with the proxy materials creates enough of an implication to bring it within the rule.
If considered proxy materials, does it need to be posted on the company’s notice & access website that will have the proxy statement and annual report?
Thank you!
03/10/2022, Question #8175
Climate Transition and Risk
What do “climate transition” and “transition risk” mean?
03/2/2022, Question #7953
Access all Q&A
Be part of the conversation and even ask your own questions in the PracticalESG Q&A Forum
With a Membership you get access to unique resources, insights, articles and discussion.