The trend to invest in companies dedicated to environmental, social, and governance (ESG) issues continues to explode. ESG and investments ESG as a concept is an evaluation of an organization’s collective consciousness for social and environmental factors. More specifically, it is a metric to assess an organization’s impact beyond its internal mission-driven operations and financial […]
A computer glitch that caused some public comments not to be received by the Securities and Exchange Commission (SEC) has resulted in the agency’s reopening the comment period for 11 proposed rulemakings and one request for comment. One of the impacted proposed rulemakings is the controversial climate-related disclosures, The Enhancement and Standardization of Climate-Related Disclosures […]
In August, the EPA received $5 million from Congress under the Inflation Reduction Act (IRA) for programs to boost voluntary corporate climate reporting while the Securities and Exchange Commission (SEC) ramps up for legal battles regarding its upcoming mandatory climate change reporting rules. To report or not to report Many companies have jumped onto the […]
A forthcoming proposed rule from the Biden administration will require contractors supplying goods and services to the federal government to disclose greenhouse gas (GHG) emissions and other climate-related risks. The rule follows similar requirements proposed by the Securities and Exchange Commission (SEC) related to the disclosure of climate change risks. The proposed changes to the Federal […]
On May 23, 2022, the Securities and Exchange Commission (SEC) charged BNY Mellon Investment Adviser, Inc., for misstatements about and omissions of environmental, social, and governance (ESG) considerations in making investment decisions for certain mutual funds that it managed. BNY agreed to a cease-and-desist order and a censure and to pay a $1.5 million penalty […]
The Securities and Exchange Commission (SEC) released two press releases on May 25, 2022, announcing proposed rule changes intended to battle “greenwashing” claims by investment groups. Names Rule The current Names Rule requires registered investment companies with business names suggesting a focus on particular types of investments to adopt a policy to invest at least […]
On March 21, 2022, the Securities and Exchange Commission (SEC) proposed rule changes that will require U.S.-listed companies to provide investors with detailed climate change risk information, including some climate-related financial statement metrics and the disclosure of registrants’ greenhouse gas (GHG) emissions. “I am pleased to support today’s proposal because, if adopted, it would provide […]
Melissa Hodgman, acting director of the Securities and Exchange Commission’s (SEC) Enforcement Division, indicated that the SEC expects to look more closely at “green” investments in the future. Her comments were made at a Managed Funds Association webcast, according to Law 360. Her remarks come on the heels of the SEC’s March 4, 2021, announcement […]
In the first quarter of 2021, the Securities and Exchange Commission (SEC) has taken significant steps to update its requirements and enforcement on climate and Environmental, Social, and Corporate Governance (ESG) disclosures.
On August 26, 2020, the U.S. Securities and Exchange Commission (SEC) announced amendments to “modernize disclosures of business, legal proceedings and risk factors under Regulation S-K” for publicly traded companies. These are the first significant amendments to these disclosure requirements in more than 30 years.