The ESG battle: 4 key states shaping regulatory discourse in the US

Left-leaning California and New York and conservative-led Florida and Texas have stepped up regulatory measures to underscore ESG’s role — or lack thereof — in their jurisdictions.

By Lamar Johnson , Zoya Mirza • Nov. 16, 2023

FDIC proposes adoption of Fair Hiring in Banking Act

The proposal would relax employment restrictions, eliminating the need for individuals convicted of certain minor offenses to seek approval before being able to work at federally insured institutions.

By Lamar Johnson • Nov. 15, 2023

Explore the Trendline➔

Top 5 stories from ESG Dive

This year has shaped up to be a formative one for ESG, both on the regulatory and financial front, with the SEC’s climate disclosure rule and the battle over shareholder rights and proposal approvals.

By ESG Dive staff

Banks might dodge EU’s supply chain sustainability regulations

The proposed carveout for financial institutions would exclude them from having to submit climate transition plans.

By Lamar Johnson • Nov. 14, 2023

ESG and sustainability conferences to keep on your radar for 2024

Upcoming events will cover sustainable finance, corporate strategy and governance, climate change, supply chain, social impact and more.

By Zoya Mirza , Lamar Johnson • Updated June 7, 2024

Making the case for women-owned banks

Three women-owned banks have emerged in the last several years with the shared goal of increasing access to capital for female entrepreneurs.

By Anna Hrushka • Nov. 13, 2023

BlackRock invests $550M in Occidental’s industrial-scale direct air capture plant

The Texas-based Stratos facility is expected to be operational in 2025 and designed to capture up to 500,000 metric tons of CO2 per year.

By Lamar Johnson • Nov. 13, 2023

House Republicans argue Labor Department ESG rule runs afoul of tax code

The Committee on Ways and Means’ majority raised objections to the Biden administration rule and called it a tactic to “use retirement savings to finance a political agenda.”

By Lamar Johnson • Nov. 8, 2023

How tech, venture capital can help food industry meet 2030 emissions goals

Efforts like feed additives for cattle and implementing solar panels on farms can help producers decrease their carbon footprint, Ceres said in its latest report.

By Chris Casey • Nov. 8, 2023

Credit union regulator proposes rule loosening hiring restrictions

The National Credit Union Administration Board aims to expand career opportunities for individuals convicted of certain minor offenses and advance financial inclusion and equity within the credit union system.

By Zoya Mirza • Nov. 7, 2023

Texas Comptroller adds 5 companies to divestment list for fossil fuel stance

The additions are part of a growing list of names drawn by the Lone Star state, which now mentions more than 350 investment funds and 15 companies, including BlackRock, BNP Paribas and UBS.

By Lamar Johnson • Nov. 6, 2023

House Judiciary subpoenas ESG, net-zero advocates alleging antitrust violations

Chair Jim Jordan subpoenaed financial coalition GFANZ and advocacy group As You Sow, whose CEO called the warrant “unfounded” and said the underlying allegations are “twisting the facts.” 

By Lamar Johnson • Nov. 3, 2023

TD buys carbon removal credits

Over four years, TD said it will purchase 27,500 metric tons of direct-air-capture carbon dioxide removal credits from Occidental Petroleum. Financial details of the transaction were not disclosed.

By Gabrielle Saulsbery • Nov. 1, 2023

Republican AGs continue fight against Biden ESG rule

A coalition of 26 state attorneys general said it is willing to fight the Labor Department rule allowing ESG considerations for employee retirement plan managers all the way to the U.S. Supreme Court.

By Lamar Johnson • Oct. 30, 2023

Trio of federal agencies update bank guidelines for financial climate risks

Bank regulators issued new guidance for how large institutions should handle climate risk and updated an anti-redlining law to assign them more responsibility for climate risks.

By Lamar Johnson • Oct. 26, 2023

$2.7B in assets pulled from sustainable funds market: Morningstar

Sustainable fund closures outpaced new launches for the first time since 2020, and outflow outpaced investments for the fourth consecutive quarter, according to the financial research firm.

By Lamar Johnson • Oct. 25, 2023

UN-backed alliance members now represent $9.5T in assets under management: report

The Net Zero Asset Owner Alliance said 69 of its members have set intermediate targets to help align operations with a global goal of net-zero emissions by 2050. 

By Lamar Johnson • Oct. 24, 2023

7 ESG trends influencing corporate strategy

Developments in the ESG landscape directing investor decisions include the consolidation of reporting frameworks, the rise of AI and data metrics, social responsibility and impending regulation from the SEC.

By Lamar Johnson , Zoya Mirza • Oct. 23, 2023

Investors not willing to sacrifice returns for ESG performance: report

Retail investors care about incorporating ESG factors into their decision-making when they are “financially material” for company operations, according to recent research.

By Zoya Mirza • Oct. 23, 2023

SEC drops ESG from exam priorities for 2024

The agency’s office responsible for promoting compliance and monitoring market risk no longer lists environmental, social and governance investing as a priority for next year.

By Lamar Johnson • Oct. 19, 2023

Citigroup’s $1B racial equity program gets Labor Department greenlight

The department’s advisory opinion clears the way for the investment bank’s program, which includes plans to subsidize investment management fees for minority- and women-owned plan managers.

By Lamar Johnson • Oct. 18, 2023

Climate change leading cause for excluding companies from portfolios: report

A coalition of nonprofits released a financial exclusions tracker of companies that have been blacklisted by banks and investors over factors such as climate change, weapon and tobacco use, and human rights violations.

By Zoya Mirza • Oct. 17, 2023

BlackRock decarbonization venture with Temasek reached $1B in climate tech investments in Q3

CEO Larry Fink said the joint venture with the Singapore-based investment firm committed a first round of funding to five companies developing technologies that will be critical to the clean energy transition.

By Lamar Johnson • Oct. 13, 2023

FASB tightens draft environmental credit rule’s scope

The U.S. standard setter is developing the first accounting guidance to directly apply to certain environmental credits.

By Maura Webber Sadovi • Oct. 11, 2023

BlackRock creates net-zero investment after axing pair of ESG funds

The asset management firm has shifted resources to climate-specific funds after the SEC updated the “Names Rule” to increase accountability on ESG funds.

By Lamar Johnson • Oct. 9, 2023

75% of companies unprepared for coming ESG audits: KPMG

As regulators worldwide begin to mandate ESG disclosures, only 25% of companies are ready for audits of their reports, KPMG said.

By Jim Tyson • Sept. 26, 2023