The Department of Labor’s new ESG rule does not tip the balance in favour of ESG investing, according to officials within the department.
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EU votes to ban unsupported carbon neutral claims May 17, 2023 The European Parliament has voted to support a proposed ban on environmental claims that are based solely on carbon offsetting schemes. The ‘Directive on Green Claims’ would prohibit companies from using generic labels such as “environmentally friendly” or “carbon neutral” without detailed evidence. The […]
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Florida passes anti-ESG bill April 5, 2023 Florida has become the latest Republican state to prohibit the inclusion of ESG considerations in investment decisions, following similar legislation that passed in Kansas. Governor Ron DeSantis signed an anti-ESG bill to require the Florida State Board of Administration to make investment decisions based “solely on pecuniary factors.” […]
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Cigarette maker British American Tobacco (BAT) has paid penalties totalling more than $629 million (£503.5 million) to US authorities to settle charges related to breaches of sanctions against North Korea.
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The UK’s charities regulator has scrapped words such as “ethical” and “responsible” from its investment guidelines in a major overhaul designed to modernise its advice for non-profits.
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The European Commission (EC) has amended guidance to clarify how to interpret the Sustainable Financial Disclosure Regulation (SFDR).
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The Financial Conduct Authority (FCA) has postponed the introduction of rules aimed at eradicating greenwashing across the UK’s asset management sector.
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The International Accounting Standards Board (IASB) has begun evaluating how companies can improve their climate-related risk reporting.
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US President Joe Biden has vetoed a bill that would prevent pension fund managers from considering climate change and ESG factors in their investment decisions.
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Kansas anti-ESG bill could reduce pension returns by $3.6bn March 15, 2023 Kansas’ proposed legislation to prevent ESG considerations by public contractors could lower state pension system returns by $3.6bn over the next decade. The Protection of Pensions and Businesses Against Ideological Interference Act would also cost the Kansas Public Employees Retirement System (KPERS) $1.14bn […]
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