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Institutional Investor: Donald Trump’s re-election in November boosted anti-environmental, social, and governance efforts, prompting 11 Republican state attorneys general to sue BlackRock, State Street, and Vanguard in December for allegedly pushing ESG investment options at the expense of the energy industry.
ESG Dive: Investors and asset owners are increasingly asking asset managers to offer more detailed reports on ESG-related activities, according to a recent report from research firm Cerulli Associates.
Yahoo Finance: A group of Republican U.S. state treasurers will withhold votes for Vanguard fund board nominees on concerns the slate is "tone-deaf" on sustainability matters, presenting a political hurdle for the top mutual fund manager as it looks to build turnout for a rare fund trustee election.
MSN: Top asset manager BlackRock said it had resumed stewardship engagements with companies after reviewing new guidance from the U.S. Securities and Exchange Commission.
Yahoo Finance: Vanguard and BlackRock Inc. (BLK) have hit pause on corporate engagement meetings as they consider the consequences of newly released guidance that redefines how investor activism is regulated, according to published reports from Semafor and Reuters citing unnamed sources.
ESG Dive: A coalition of 17 Democratic state finance officials sent a letter to the acting heads of the Securities and Exchange Commission and Department of Labor, combating anti-ESG and anti-DEI claims from their Republican colleagues that were previously sent to the agencies, according to the letter seen by ESG Dive.
Yahoo Finance: JPMorgan Chase published the first installment of a climate-focused advisory series last week that the bank says is designed to help clients understand climate risk and how to factor its financial impacts in asset prices.
Yahoo Finance: Top mutual fund manager Vanguard has paused meetings with portfolio companies while it reviews the impact of new guidance on investor activism from the U.S. Securities and Exchange Commission, according to people familiar with the matter.
The Guardian: Support for shareholder proposals aimed at tackling environmental and social risks hit a record low last year, figures show, amid a “worrying retreat” by investors, particularly in the US.
ESG Dive: A federal judge ruled that the Labor Department’s regulation allowing fiduciaries to consider ESG and other collateral factors as a tiebreaker does not violate the Employment Retirement Income Security Act of 1974, according to court documents.
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