Featured Events
Jul 29 2024
Podcast
: Employer Immigration Sponsorship
Jul 18 2024
Podcast
: Neurodivergence in the Workplace
Featured Blogs - Subscribe to Free Blog
Oct 3 2024 #assurance, #climate, #compliance, #environment, #esg, #investors
EU Publishes Guidelines on CSRD Limited Assurance
At the end of September, the Committee of European Auditing Oversight Bodies (CEAOB) released guidelines on limited assurance on sustainability reporting. In accordance with CSRD, CEAOB adopted “non-binding guidelines to set out the procedures to be performed [by practitioners] when...
Oct 3 2024 #climate, #environment, #esg
EU Seeks to Standardize Flight GHG Information
Speaking of the EU… the European Commission recently launched a consultation on a voluntary EU Flight Emissions Label (FEL). This label would provide airline customers with comparable standardized information regarding the GHG emissions of flights between airlines. The program is...
Oct 3 2024 #climate, #compliance, #diversity, #environment, #equity, #esg, #human-rights, #investors, #social, #supply-chain
What ESG Practitioners Can Learn From Bull Riding and Field of Dreams
That isn’t a headline or analogy you see every day, is it? Even so, there really are practical lessons here as well as something a little fun. Readers already know I’m a fan of bull riding. I tried my own...
Oct 2 2024 #climate, #compliance, #environment, #esg, #investors, #supply-chain
Why Accounting is Critical for Corporate Climate Programs
You might not know this, but if your job involves carbon offsets or credits (voluntary or compliance markets), then an interest in – or at least basic understanding of – accounting is crucial. Bloomberg’s Green Daily Newsletter recently wrote about...
Oct 2 2024 #compliance, #environment, #esg, #social, #supply-chain
Italian Regulators Investigate Shein for Greenwashing
Italy’s competition authority appears to be gearing up for another greenwashing enforcement action. This time, the agency is taking on the online fashion retailer Shein over the company’s sustainability claims. Among the allegations, the competition authority alleges that Shein has...
Oct 2 2024 #climate, #compliance, #environment, #esg, #social, #supply-chain
See You at LegalESG in NYC October 15
Whether you attended Climate Week in NYC or not, LegalESG NYC on October 15 should not be missed. The day will be full of usable and practical information for not only lawyers, but other advisors and in-house ESG/sustainability leaders and...
Oct 1 2024 #climate, #compliance, #environment, #esg, #investors, #supply-chain
California Governor Signs Amendments to State Climate Disclosure Laws
News from California – Governor Newsom signed SB219, modifying the state’s recent climate disclosure laws (SB253 – the Climate Corporate Data Accountability Act – and SB261 – Climate-Related Financial Risk Reporting). These amendments are more administrative than substantive. Major elements...
Oct 1 2024 #compliance, #environment, #esg, #supply-chain
New California Responsible Textile Recovery Act Signed into Law
As long as we are talking about California… last week, California Governor Newsom also signed SB707, the Responsible Textile Recovery Act of 2024, creating a new statewide extended producer responsibility program for apparel and textiles. Like the state’s climate disclosure...
Oct 1 2024 #diversity, #equity, #esg, #social
New Podcast: Administering Leaves of Absence Inclusively
A new podcast is now available for members. Laura Lemanski (she/her), People Operations Manager at NextRoll, joins us again to talk about DEI issues that can arise from personal leave. When it comes to leaves of absence, creating an inclusive...
Sep 26 2024 #climate, #compliance, #diversity, #environment, #equity, #esg, #investors, #social
Do ESG Executive Compensation Metrics Really Incentivize Performance? Not So Much
I am once again borrowing from Meredith, but this time from the Compensation Standards blog. She writes about a study on the effectiveness of ESG metrics in executive compensation. Turns out they are very effective … for executives. “In ‘ESG...
Sep 26 2024 #climate, #compliance, #environment, #esg, #investors, #supply-chain
What the Financial Sector Really Thinks About Net Zero
Even though financial institutions tend to generate few Scope 1 emissions, they are in the crosshairs for “financed emissions” – increasingly called “Scope 4” emissions even though the GHG Protocol (source of the “scope” terminology and concepts) don’t go past...
Sep 26 2024 #climate, #compliance, #environment, #esg, #investors
Hong Kong Government to Adopt Fully Aligned IFRS Standards
Hong Kong’s sustainability disclosure laws regulations moved closer to implementation with new exposure drafts published recently by the Hong Kong Institute of Certified Public Accountants (HKICPA). The Hong Kong Stock Exchange (HKEX) previously adopted similar standards for listed issuers, but...
Sep 25 2024 #compliance, #environment, #esg, #supply-chain
California Sues ExxonMobil Over Plastics Recycling Claims, SEC Could Follow
The state of California brought a lawsuit against Exxon alleging the company’s false claims about recycling led to a plastic pollution crisis. In the 1970s and 1980s, public outcry over plastic pollution was growing and many in the petrochemical industry...
Sep 25 2024 #climate, #environment, #esg, #investors, #supply-chain
Betting on Scope 2 and 3 Reductions? Read This
Most likely, your company has plans for reducing its greenhouse gas footprint through a combination of direct action and expectations of actions taken by others in the supply chain. Frequently, that involves reduced use of fossil fuels in transportation, energy...
Sep 25 2024 #climate, #compliance, #environment, #esg, #investors, #supply-chain
93% of Russell 1000® Companies Disclose Sustainability Data
From watching companies walk back climate commitments to keeping up with the latest from the Anti-ESG movement, it’s easy to lose the forest for the trees in ESG. While these trends are important, they can obscure the real progress being...
Sep 24 2024 #climate, #compliance, #environment, #esg, #investors
Tyson Foods Sued for Greenwashing
A new greenwashing case has been brought by the Environmental Working Group in the District of Columbia against agricultural giant Tyson Foods. The case alleges that, despite the company’s claims of being “net-zero by 2050” and producing “climate-smart” beef, Tyson...
Sep 24 2024 #compliance, #esg, #investors
SEC Enforces Against Company Claiming “Biblically Responsible” Investing Strategy
We have become particular about the ESG investing topics we cover these days, but this one caught our attention. Last week, the SEC filed charges against investment advisory firm Inspire Investing LLC for “making misleading statements and for compliance failures...
Sep 24 2024 #climate, #compliance, #diversity, #environment, #equity, #esg, #human-rights, #investors, #social, #supply-chain
Who To Believe/What to Read in ESG and Sustainability
Climate Week kicking off in NYC with over 500 individual events spread across the city is emblematic of a problem facing sustainability/ESG practitioners on a daily basis – too much information and much of what is available conflicts with itself....
Sep 19 2024 #climate, #compliance, #environment, #esg, #investors
Canadian Greenwashing Law Creates Trouble for Investors
We’ve written before about Canada’s new anti-greenwashing law and how the risk of enforcement caused companies to quietly retract sustainability messaging. Now investors are weighing in and asking companies to make their sustainability information public once more. Responsible Investor covered...
Sep 19 2024 #climate, #compliance, #environment, #esg, #investors, #supply-chain
What SEC’s Charges Against Company for “Unsupported Hype” Could Mean for Climate Tech
Cydney Posner at Cooley wrote about a new enforcement action by SEC against Zymergen, a biotech company started in 2013 seeking to “replac[e] petroleum-based products with biobased products, chemicals, and materials.” In 2021, the company issued an IPO and raised...
Sep 19 2024 #climate, #compliance, #environment, #esg, #human-rights, #social
Plaintiffs Seek to Revive Federal Youth Climate Case
Climate cases brought by NGOs like “Our Children’s Trust” on behalf of children have gained traction in the last few years. Major victories in Hawaii and Montana prove the legal theories behind these cases can be viable. Cases have also...
Sep 18 2024 #climate, #compliance, #environment, #esg
The First EPA Notice of Violation for a Carbon Sequestration?
Here is something you don’t see everyday – and the first time I’ve ever seen it. On August 14, EPA Region V (Chicago) issued a Notice of Violation for a carbon sequestration injection well owned and operated by Archer-Daniels-Midland (ADM)...
Sep 18 2024 #climate, #compliance, #environment, #esg, #investors
SEC Dissolves ESG Task Force, Leaving Questions
The SEC has made less noise on ESG in 2024 than the previous couple years. The Keurig enforcement action was the first ESG activity we’ve seen in awhile, standing in contrast to high profile ESG enforcement in 2022 and 2023,...
Sep 18 2024 #climate, #environment, #esg, #investors
Survey Shows Financial Returns for Companies Committed to Climate
A recent survey from BCG shows that while many companies are falling behind on their decarbonization commitments, those sticking with emissions reductions see tangible financial benefits. The survey, which polled some 1,864 executives across 16 industries and 26 countries found...
Sep 17 2024 #climate, #compliance, #diversity, #environment, #equity, #esg, #investors, #social, #supply-chain
More on Keurig’s SEC Enforcement
Zach pointed out last week that SEC’s $1.5 million fine against Keurig was interesting in that the materiality of the company’s statement about pod recycling was questionable and not addressed by the action. Yesterday, Meredith drilled a bit deeper into...
Sep 17 2024 #climate, #compliance, #environment, #esg, #investors
Australia Passes Mandatory Climate Disclosure Legislation
Australian lawmakers recently voted to pass mandatory climate reporting in line with the country’s sustainability roadmap. The disclosures will follow the Australian Sustainability Reporting Standards (ASRS), which align closely with the ISSB’s IFRS standards. ESG Today wrote about the new...
Sep 17 2024 #compliance, #environment, #esg, #investors
UK FCA Pushes Back Fund Name Rule
Last week, we wrote about an upcoming deadline for new fund name and marketing rules under the UK FCA’s Sustainability Disclosure Regulation (SDR). The deadline for the rules, set to take effect on December 2, has now been extended until...
Sep 12 2024 #compliance, #environment
SEC Charges Keurig Over K-Cup Greenwashing, Implies Investor Relevance
Usually, when we talk about product greenwashing, that relates to consumer protection under the Federal Trade Commission (FTC) here in the United states. But this week, the SEC charged Keurig with misstatements related to the recyclability of the company’s K-Cups....
Sep 12 2024 #assurance, #climate, #compliance, #environment, #esg, #investors, #social, #supply-chain
That Was Quick: SEC Adopts New Auditor Quality Standards
Last week, I blogged that the SEC would consider adopting changes to financial statement audit standards. Sure enough, the SEC adopted them. As Liz Dunshee (back from medical leave herself) writes on TheCorporateCounsel.net: “… the SEC approved the PCAOB’s new...
Sep 12 2024 #climate, #compliance, #environment, #esg, #human-rights, #investors, #supply-chain
EPA Proposes Updates to Sustainability Labels for Federal Procurement
On Tuesday, the EPA released proposed updates to their Recommendations of Specifications, Standards and Ecolabels for Federal Purchasing (“Recommendations”), “which help federal government purchasers and other buyers utilize private sector standards and ecolabels to buy products that are more sustainable...
Sep 11 2024 #climate, #diversity, #environment, #equity, #esg, #investors, #supply-chain
Is Sustainability a Customer Key Buying Criterion Yet? Maybe
Bain & Company published a new report The Sustainability Puzzle: What Do Consumers Really Want? offering new perspectives on how sustainability intersects with customer needs. The report indicates that more consumers “want to live sustainably and that they believe their...
Sep 11 2024 #climate, #compliance, #environment, #esg, #supply-chain
CA Disclosure Amendments Await Governor’s Signature
Since their introduction California bills SB 253 and SB 261 have taken the sustainability world by storm. Many expected the SEC climate disclosure rules to be the regulation that ushered in mandatory reporting of GHG emissions, but with the SEC...
Sep 11 2024 #climate, #compliance, #environment, #esg, #investors, #supply-chain
UK SDR Fund Name Deadline Quickly Approaching
The UK’s Sustainability Disclosure Regulation (SDR) brings many changes to the UK financial market with new naming and marketing rules for sustainability funds in the UK. Deadlines for those rules are approaching quickly. On December 2, over 1,200 UK funds...
Sep 10 2024 #compliance, #environment, #esg, #human-rights, #investors, #social, #supply-chain
UBS Fights Government Acceptance of NGO Forced Labor Complaint
Companies generally fear NGO reports and complaints because they can spark public backlash and consumer boycotts. Even though NGOs aren’t always correct or unbiased in their attacks, companies tend to tread lightly when responding to such reports. Last week, Swiss...
Sep 10 2024 #climate, #compliance, #environment, #esg, #investors
Texas Anti-ESG Investing Law Legal Challenge May Spread
We’ve previously written about the Texas Anti-ESG investing law that established a list of financial services firms excluded from providing certain investment and underwriting services under state contracts because the firms offer ESG products or use ESG factors in investment...
Sep 10 2024 #climate, #environment, #esg, #supply-chain
Microsoft Forms New AI Emissions Taskforce
Previously, we wrote about Microsoft’s Scope 3 emissions rising 30% since 2020 as a result of the company’s investments and focus on AI. However, unlike other companies, Microsoft has not reduced its sustainability goals despite this increase in emissions. Many...
Sep 5 2024 #assurance, #climate, #compliance, #environment, #esg, #human-rights, #investors, #social, #supply-chain
Sustainability Report Restatements Begin
A couple years ago, with substantial input from John Jenkins, I blogged about the potential for sustainability/ESG matters to trigger restatements of financial reports in the US: “What if a publicly-traded company finally took a hard look at potential financial...
Sep 5 2024 #climate, #environment, #esg, #investors
ESG Ratings Quality, Use and Regulatory Oversight Trend Upwards
ESG ratings have been fraught with issues since their inception. Over the past several years, some jurisdictions introduced voluntary and mandatory codes of conduct and rater regulations. This has led to some improvement in the ratings industry and financial services...
Sep 4 2024 #assurance, #climate, #compliance, #environment, #esg, #social
SEC To Consider New Auditor Standards
Earlier this year, I blogged about new auditor standards approved by the Public Company Accounting Oversight Board (PCAOB) – General Responsibilities of the Auditor in Conducting an Audit and A Firm’s System of Quality Control. These new standards only apply...
Sep 4 2024 #climate, #compliance, #environment, #esg, #supply-chain
Scope 3 Reporting Still a Major Challenge for Most Companies
ESG may face headwinds in several areas, but the hard work of sustainability reporting continues moving forward. Deloitte’s 2024 Sustainability Action Report finds that more than 50% of companies have now established cross-functional ESG working groups – with an additional...
Sep 4 2024 #compliance, #environment, #esg, #supply-chain
BlueTriton Greenwashing Suit Dismissed, Plaintiffs Refile
A recent greenwashing lawsuit against BlueTriton was dismissed in the U.S. Northern District Court of Illinois. The suit alleges that BlueTriton engaged in deceptive marketing by labeling water containing microplastics as “100% natural spring water.” However, the court found that...
Hot Topics
For ease of navigation, we have broken all subject areas into categories: Environmental, , and Governance.
Environmental
Governance
- Board Oversight of E&S Issues
- Board Oversight of E&S Issues / M&A Considerations
- Chief Sustainability Officers
- E&S Governance
- ESG Staffing Matters
- Investor Policies & Trends / Shareholder Activism & Engagement / Shareholder Proposals
- Investor Trends
- M&A Considerations
- Risk Management
- Shareholder Activism
- Shareholder Engagement
- Shareholder Proposals
View all Subject Areas, including those spanning multiple disciplines, here.
Featured Q&A Members Only
Enforcing ESG fraud in the US
With regard to fraud as it applies to sustainability disclosures under US financial authorities, who is the enforcer of disclosure transparency and accuracy?
10/2/2024, Question #24745
Why are climate risk disclosures in 10-K are different from a company’s ESG report?
I saw discussion on LinkedIn that FedEx’s 10-K states that the company is not going to meet their climate goals. Since SEC’s climate rules aren’t in effect, I thought there is no requirement to file climate disclosures with the SEC. Plus what is in the 10-K is completely different from what the company says in their ESG report. What is going on?
07/23/2024, Question #23943
Asking for ESG department funding increases in an anti-ESG world
I’m preparing for a meeting with senior management and the board where I will be asking for additional funds for the company’s ESG programs. I already know there will be strong pushback, especially given the anti-ESG/anti-DEI developments since the previous budget cycle. What are some ideas for making my case?
07/18/2024, Question #23885