The European Union is considering a delay in some of its ESG rules over concerns they’re too burdensome for industry. Certain elements of the European Sustainability Reporting Standards could be pushed off for two years in an attempt to make sure European companies “remain competitive,” according to Bloomberg.
Combined with the absence of ESG as a priority at the SEC next year and the agency’s long-delayed climate risk disclosure rule, there’s a danger politicians and policy makers on both sides of the Atlantic are losing appetite for further regulation amid high interest rates and energy prices, the looming threat of recession, and wars in Ukraine and the Middle East.
- Barron’s: The SEC Just Set Its 2024 Compliance Priorities for Advisors. ESG Didn’t Make the Cut
- Bloomberg: EU Proposes Delaying Some ESG Reporting Rules | Larry Fink Leads CEOs Back to COP Talks They Snubbed Last Year
- Bloomberg Law: SEC’s Amended ESG Names Rule Sends Clear Signal to Companies
- Bloomberg Tax: Last-Ditch Effort to Stop ESG Reports Fails in EU Parliament
- The Bond Buyer: The Muni Market & The ESG Evolution
- CNBC: California lawmakers urge SEC to follow their lead in climate disclosure requirements
- ETF Trends: More Education Essential to ESG Adoption | Work to Be Done to Improve ESG Adoption
- Fast Company: Enemy of the right, deserted by the left: Is ESG’s future grim in a new anti-woke society?
- Financial Times: More than 50,000 companies to report climate impact in EU after pushback fails
- Fintech: FinTech Magazine’s Top 10 banks for ESG in 2023 | Surge in sustainability reporting as CDP integrates ISSB climate standards
- Investment News: Out of sight but top of mind: SEC maintains ESG focus despite absence in exam priorities
- NPR: The SEC is finalizing climate rules while California has its own regulations
- Pensions & Investments: European Parliament rejects bid to weaken ESG reporting rules
- Politico: Federal court backs SEC’s approval of Nasdaq board diversity rule | Senate votes to overturn CFPB small business rule as Biden threatens veto
- PV Tech: Supply chain ESG “very much the top of the agenda” at Solar & Storage Live 2023
- Reuters: UK watchdog says some funds attempting to mislead with ESG label
- Wall Street Journal: Larry Fink on ESG, the Economy and the State of Democracy
- Forbes: Most Americans Still Unclear About What ESG Means, Survey Finds
- Bloomberg: The Tyranny of ESG Has Run Its Course
- Fortune: ESG is at a crossroads. A new framework can help companies avoid box-checking exercises
- The Texan: Governmental Entities Must be More Actively Vigilant in Assessing ESG Violations, Attorney General Says
- Fox: New report reveals surprising presidential candidates who will fight ESG, woke companies
- 1819 News: Andrew Puzder at Troy University: ESG investing is using ‘red state monies to advance a progressive political agenda’
- Texas Attorney General Ken Paxton tweeted: I will continue to vigorously enforce our laws that prevent taxpayer funds from going to companies whose ‘ESG’ policies harm Texans or key Texas industries. https://dailycaller.com/2023/10/18/exclusive-ken-paxton-esg-companies/
- Ceres News Senior Director Chris Fox tweeted: “E, S and G — environmental, social and governance — really just encapsulate long-term business risks…It’s part of our fiduciary duty as long-term investors…I want to consider these. I want companies to consider these” – @CalSTRS CIO pionline.com
- Bloomberg Senior Columnist Merryn Somerset Webb tweeted: The end game. #ESG collapses under the weight of it’s inability to define itself. Turns out it was yet another function of luxury interest rates. https://t.co/eMbyeZugjF
- October 23: Addressing the global “climate risk intelligence arms race.” Register here.
- October 26: Ceres Charting Progress Webinar: Regulator Actions on Climate Financial Risks. Register here.
- October 31: Ceres A Guide for Businesses: California’s New Climate Disclosure Legislation Webinar. Register here.