As more advisory services, investment companies, and public companies have publicized their Environmental, Social, and Governance (ESG) goals, the U.S. Securities and Exchange Commission (SEC) has proposed a set of new rules intended to create a consistent, comparable, and reliable source of information regarding climate change impacts and sustainability efforts to inform and protect investors while facilitating further innovation in this evolving area.
The SEC’s proposed new rules have,… More
While the U.S. Securities and Exchange Commission (“SEC”) has been working on its climate disclosure rulemaking for the past 15 months, the California legislature may end up beating it to the punch. The SEC first announced its proposed rulemaking to require certain businesses to include climate-related disclosures in their registration statements and periodic reports in March 2022, but the rulemaking process has been slow in light of strong resistance from various stakeholders.… More
The Boston Globe reported yesterday that the Massachusetts Pension Reserves Investment Management Board approved investment guidelines that would have the Board vote against directors of companies in which the Board invests where the company does not have a plan to reach net zero carbon emissions by 2050. 
As the Globe notes, there is something of a debate among climate activists whether it is better to support divestment or the kind of activism represented by the Board’s action yesterday. … More