ESG
State Blacklists of Companies with Sustainability Policies Take a Constitutional Hit
A federal district court just struck down a Texas law blacklisting companies that oppose fossil fuels.
Four or five years ago, a half-dozen states passed laws that blacklist companies opposing fossil fuels. Texas was the most prominent of those states. These laws have pressured companies, especially big financial companies, to invest in fossil fuels. A federal district judge has struck down the Texas law as a violation of due process and the First Amendment. The court’s ruling is a welcome development and long overdue. Texas has been on a campaign to punish anyone who dares oppose the use of fossil fuels. It’s good to see that campaign hit a constitutional wall.
Climate Backlash
Vicious attacks on climate progress are on the rise.
Presumably, no one actually wants rising seas, dangerous heat waves, severe droughts, runaway wildfires, and floods. Nor, I assume, are there many who want those climate disasters for their children and grandchildren. Still, there are all too many politicians and public figures who act as if their goal was to foment climate change. No doubt the …
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CONTINUE READINGAnother Battle in the ESG Wars
Another Trump rollback undone, another step forward for sustainable investing.
Some call it ESG — the growing attention of big investors to a company’s record Environmental, Social, and Governance issues. Some call it responsible investing. Others call it “woke.” On Nov. 22, the Biden Administration notched a victory in this ongoing battle, allowing ESG investments by private pension plans. Those plans now hold roughly $13 …
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CONTINUE READINGThe Turning Tide
Last week featured some remarkable developments relating to climate policy.
Some events last week sent a strong signal that the tide is turning against fossil fuels. Each of the events standing alone would have been noteworthy. The clustering of these events dramatizes an important shift. To paraphrase Churchill, this may not be beginning of the end for fossil fuels, but at least it is the …
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CONTINUE READINGMaking Corporate Commitments Credible
How can we make climate pledges something more than cheap talk?
Companies across many different economic sectors have announced ambitious goals like being climate neutral by 2050. Commitments on ESG – Environmental, Social, and Corporate Governance — are a growing corporate emphasis. Talk is cheap, however. How can we know they’re serious? How can we even be sure that the information they release about their environmental …
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