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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.
Yahoo Finance/Reuters: A federal judge in Texas upheld a rule adopted during Democratic former President Joe Biden's tenure that allows socially conscious investing by employee retirement plans, saying it remains valid even after a U.S. Supreme Court ruling that curbed agencies' regulatory power.
ESG Today: Corporate boards in the U.S. see significant risk to their companies in speaking out on social issues, with less than a fifth of directors believing that they should encourage C-Suite leaders to speak publicly to reinforce company values, according to a new survey released by board education provider Corporate Board Member, GRC solutions provider Diligent, and advisory firm FTI Consulting.
Yahoo Finance/Reuters: The acting chair of the U.S. Securities and Exchange Commission signaled the regulator may roll back a controversial rule requiring thousands of public companies to disclose the threats their businesses face from risks related to the climate and environment.
The Guardian: Private equity investment firms have been slammed for their role in the declining healthcare quality and access, as well as the rising costs for patients, in a recently released report from the Department of Health and Human Services (HHS).
ESG News: Morgan Stanley Infrastructure Partners (MSIP) has made a strategic investment in Torch Clean Energy, a U.S.-based solar and storage developer, to expand and evolve its business model.
MSN: Norway's wealth fund will continue to raise environmental, social and corporate governance (ESG) issues with the companies it is invested in, including with Big Tech, despite a backlash against ESG, a top fund official said.
BNN Bloomberg: ESG. Three letters that have inspired, confused and angered. They stand for environmental, social and governance, and refer to a strategy where banks and investors weigh factors such as climate change and labor conditions in their financing decisions.
ESG Dive: Republican finance officials from 18 states sent a letter to the acting leaders of the Securities and Exchange Commission and Department of Labor last week, urging the agencies to adopt regulations for asset managers and retirement plan sponsors that prohibit the use of environmental, social and governance factors or diversity, equity and inclusion goals.
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