- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-03-02T17:28:00
The blowback against environmental, social, and governance (ESG) initiatives in investments and corporate strategies is quickly building momentum in conservative politics.
“It has become an identifying political issue, where politicians can plant a flag to declare where they stand,” said Lance Dial, a partner at law firm Morgan Lewis. “This is really more about politics than about the law.”
In many states where anti-ESG bills are not just up for debate but have been signed into law, the underlying motivation appears to be protecting core industries—oil and gas, coal, even agriculture—from losing access to capital.
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Hester Peirce of the Securities and Exchange Commission argued materiality-based standards—not environmental, social, and governance standards—best suit investors’ needs during a recent speech.
The Securities and Exchange Commission is reportedly considering pulling back on key elements of its proposed climate-related disclosure rule following pushback from investors, companies, and the public.
Compliance practitioners share their experiences navigating responsibilities related to environmental, social, and governance without stepping on the toes of other colleagues.
The U.K. Financial Conduct Authority issued new guidance on how to comply with its upcoming anti-greenwashing rule, which is set to take effect May 31.
The U.K.’s Serious Fraud Office said in a five-year strategic plan it’s “struggled to keep pace with demand” as ballooning casework shows no signs of slowing down.
The Consumer Financial Protection Bureau continued its push to establish supervisory authority over more nonbank financial companies with the adoption of a procedural rule to streamline the process for such designations.
