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Showing posts with the label ESG

Response to Proposed Department of Labor ESG Rule

On June 23, 2020, "the U.S. Department of Labor proposed a rule that would 'update and clarify' the Department of Labor's investment duties regulation. According to the news release issued announcing this proposed rule, "Private employer-sponsored retirement plans are not vehicles for furthering social goals or policy objectives that are not in the financial interest of the plan," said Secretary of Labor Eugene Scalia. "Rather, ERISA plans should be managed with unwavering focus on a single, very important social goal: providing for the retirement security of American workers." Our 135 page response, filed on July 26, 2020, concerned the social impact of the proposed rule, and stated that: "With this proposal, we believe the Administration and, by extension, the Secretary, have violated their oath to protect the public and should resign or be removed. Of course, we understand how committed these specific individuals are to self-promot

Black Lives Matter and ESG

https://blmesg.eventbrite.com

The Intersection of ESG & Covid-19, Lana Feteiha, Impact Investing Intern

COVID-19 has forever altered standard business practices. Prior to recent events, Environmental, Social, and Governance efforts have been an afterthought. But the global pandemic demonstrates the fundamental role that ESG plays in corporate investments. The presentation focused on three main points: corporations’ social responses and disclosures to stakeholders regarding ESG factors, how investors incorporate ESG factors into business decisions, and how this crisis will affect what happens next. The first speaker, Martin Whittaker, is the CEO of Just Capital; a non-profit organization that strives to create a more just market in America through the collection of data. Whittaker discussed the importance of corporate social responses in today’s climate by addressing the Environment and Social aspects of the crisis. COVID-19 has resulted in hazardous working conditions, so companies should be prioritizing the wellbeing of their employees. According to Whittaker, the proper treatmen

Seminar on Conscious Investing with the International Institute of Corporate Sustainability and Responsibility Mumbai, Maharashtra, India

Seminar on Conscious Investing with the International Institute of Corporate Sustainability and Responsibility Mumbai, Maharashtra, India. See https://youtu.be/c05OpNkR9Rk via @YouTube

Growth in ESG Funds. Comments by Jalil Boulahssas, Impact Investing Intern, University of Richmond

According to the Deloitte Center for Financial Service s, there has been a significant increase in environmental, social, and governance (ESG) investments since 2017. This follows a clear trend as the public and the global media have begun to focus on sustainability. As a result of this movement, it is predicted that client-driven ESG investments will reach half of all professionally managed investments by the year 2025. While the dollar amount of ESG investments are highest in Europe, the data shows increased American interest in this investment type that will drive future growth. According to the Deloitte Center report, the share of ESG investments in the United States has grown from 11% of assets in 2011 to 26% of assets in 2018. One factor driving the growth of ESG mandated funds is client demand from both retail and institutional investors. In response to this unprecedented growth, government agencies and investment institutions are working to establish consistent defini

Financial Services Subcommittee Hearing on “Building a Sustainable and Competitive Economy: An Examination of Proposals to Improve Environmental, Social, and Governance Disclosures.”

Last week the House Financial Services Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets held a hearing on “Building a Sustainable and Competitive Economy: An Examination of Proposals to Improve Environmental, Social, and Governance Disclosures.” Several pieces of legislation, or bills, have been proposed, (but not filed yet) in the US House of Representatives regarding Environmental, Social and Governance (ESG) reporting by large corporations. ● HR ___: ESG Disclosure Simplification Act of 2019 (Rep. Vargas) ● HR ___: Shareholder Protection Act of 2019 ● HR ___: Corporate Human Rights Risk Assessment, Prevention, and Mitigation Act of 2019 ● HR ___: To require issuers required to file an annual or quarterly report under the Securities Exchange Act of 1934 to disclose the total amount of corporate tax such issuer paid in the period covered by the report, and for other purposes ● HR ___: Climate Risk Disclosure Act of 2019 (Rep. Casten) The US

We are one of the premier firms in understanding and analyzing Environmental, Social and Governance (ESG) trends

We are one of the premier firms in understanding and analyzing Environmental, Social and Governance (ESG), Corporate Social Responsibility (CSR), and impact investing trends. Our work has focused on long-term changes that will affect and influence the economy, financial system, society and environment at large: We developed the first targeted Mortgage-backed Security (MBS) investment CRA securitization, an MBS pool backed by loans from minority financial institutions. We designed and created the investment in 1992. (See: https://www.creativeinvest.com/wglelca.pdf ) On June 15, 2000, we testified before the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises (GSE’s) of the US Congress. We suggested that the GSE’s (Fannie Mae and Freddie Mac) be subject to a thorough “Social Audit.” A Social Audit is an examination of the performance of an enterprise relative to certain social objectives. It also includes a review of