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ESG Today: A U.S. federal judge has denied motions to dismiss most of the claims in a multistate lawsuit accusing asset managers BlackRock, Vanguard and State Street of violating antitrust laws and conspiring to use sustainable investment initiatives to manipulate coal markets, allowing the case to proceed.
Financial Advisor Magazine: The top financial officers from 21 states have given 18 Wall Street giants—including BlackRock and JPMorgan—until September 1 to ensure their investment strategies follow “a fiduciary model" that's free of ESG investing or risk losing billions in state pension business.
ESG Dive: Since President Donald Trump was reelected last fall, 20% of companies have scrapped their diversity, equity and inclusion programs, according to a July 23 Resume.org report.
Portfolio Adviser: Fidelity International has launched an ESG-screened global equity index fund, seeded with £320m from discretionary fund manager ebi.
ESG Dive: Shortly after President Donald Trump’s inauguration in January, the Securities and Exchange Commission started taking steps to distance itself from rules promulgated under the prior administration, particularly those on environmental, social and governance issues.
ESG Today: The U.S. Securities and Exchange Commission (SEC) has told the U.S. Court of Appeals that it does not intend to review or revisit its climate disclosure rules for companies, and asked the court to rule on rule on petitions filed against the rules.
MSN/Reuters: Glass Lewis and ISS, two of the best known proxy advisers, sued Texas to block a first-of-its-kind state law limiting their ability to advise shareholders on diversity, environmental and governance practices.
ESG Today: Nature-based carbon removal startup Chestnut Carbon announced that it has secured a new $210 million project finance credit facility, led by J.P. Morgan and backed by a massive forest-focused carbon removal offtake agreement recently signed with tech giant Microsoft.
Waste Today: Infrastructure at Goldman Sachs Alternatives announced it has entered into a definitive agreement to acquire Liquid Environmental Solutions (LES), a U.S. provider of nonhazardous liquid waste management services based in Irving, Texas, from Audax Private Equity.
ESG News: Blackstone will invest over $25 billion to expand Pennsylvania’s digital and energy infrastructure, a move expected to catalyze an additional $60 billion in private investment across the Commonwealth.
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