On October 5, 2021, the Global Reporting Initiative (GRI) revised its Universal Standards on sustainability reporting. GRI is one of several stakeholder-led organizations that publishes voluntary standards for sustainability reporting. Through its standards, GRI seeks to promote standardized environmental, social, and governance reporting by companies and industries to their stakeholders. (more…)
U.S. President Joe Biden unveiled an initiative to promote the production and use of sustainable fuel in the aviation industry on Thursday, September 9. This initiative includes a goal to cut emissions in the aviation sector by 20% by 2030 and is part of the Administration’s goal to reach net-zero emissions by 2050. (more…)
The U.S. House of Representatives Financial Services Committee advanced another piece of legislation related to disclosures of environmental, social, and corporate governance (ESG) metrics on Wednesday, May 12, 2021. Introduced by Rep. Sean Casten, D-Ill., HR 2570, the Climate Risk Disclosure Act, cleared the committee with the full support of the majority members in a vote of 28 to 24. (more…)
Earlier in May, the Texas Legislature passed a bill (SB 13) that would prevent Texas from investing in environmental, social, and governance (ESG) financial products that boycott Texas energy companies. If signed into law by Republican Gov. Greg Abbott, SB 13 would require Texas’ public pension funds to “sell, redeem, divest, or withdraw all publicly traded securities of [any] financial company …” that “boycott[s] energy companies.” (more…)
On May 20, 2021, U.S. President Joe Biden issued an executive order (EO) on “Climate-Related Financial Risk,” which established a comprehensive policy to advance disclosure and mitigation of climate-related financial risk in an effort to achieve the U.S. goal of net zero emissions by 2050.
Last week the U.S. House of Representatives advanced the first piece of legislation of the year regarding environmental, social, and governance (ESG). On Wednesday, April 21, the House Financial Services Committee passed H.R. 1187, the ESG Disclosure Simplification Act of 2021, by a party-line vote of 28-22.