News & Analysis as of

Fiduciary Duty Corporate Governance Environmental Social & Governance (ESG)

Goodwin

Minding the Store: Unanticipated ESG Issues Affecting ERISA Fiduciary Supervision

Goodwin on

A recent summary judgment decision from the U.S. District Court for the Northern District of Texas in an ERISA (Employee Retirement Income Security Act) class action challenging the alleged impact of environmental, social,...more

ArentFox Schiff

ESG Update: Two Court Decisions Highlight the Importance of the “G” in “ESG”

ArentFox Schiff on

ESG stands for “environmental, social, and governance.” Though often overlooked, two recent cases — Spence v. American Airlines and Exxon v. Arjuna Capital, LLC — focus on G’s place in the ESG initialism. Here, we break...more

Paul Hastings LLP

Pecuniary vs. Nonpecuniary Factors: Understanding the Potential Scope of Anti-ESG Restrictions in U.S. State Laws

Paul Hastings LLP on

Executive Summary and Overview- State anti-ESG lawmakers have enacted legislation aimed at restricting investors from considering ESG factors in their investment strategies and decisions by requiring state financial...more

ArentFox Schiff

Airline 401k Decision Illustrates Continued Takeoff of ESG Litigation

ArentFox Schiff on

A Texas federal judge recently permitted an environmental, social, and governance- (ESG) related Employee Retirement Income Security Act (ERISA) case filed by an airline pilot against his employer and its benefits plan to...more

Wilson Sonsini Goodrich & Rosati

2023 Delaware Corporate Law and Litigation Year in Review

Wilson Sonsini is pleased to present the 2023 Delaware Corporate Law and Litigation Year In Review. In 2023, the Delaware courts issued many decisions addressing an array of important topics, including director and officer...more

Jenner & Block

Client Alert: Antitrust and ESG—How to Stay Ahead of the Game

Jenner & Block on

On May 15, 2023, 22 state attorneys general sent a letter to several insurance companies warning that the companies’ Environmental, Social, and Governance (ESG) policies may violate the antitrust laws. Just six weeks earlier,...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

ESG: Important New Considerations for Employers

Consideration of environmental, social, and governance (ESG) issues is becoming increasingly important for companies when conducting business and in dealings with investors and employees. The increased emphasis on ESG poses...more

Fisher Phillips

Tides Have Turned: 4 Key Takeaways for Employers as Labor Department Clears Way for ESG-Focused Investment Options

Fisher Phillips on

The tides can turn quickly in the world of workplace law, and employers who operate as plan fiduciaries for their employees’ retirement investments can now shift their thinking thanks to the latest development. While the...more

Hogan Lovells

(Patient) safety first: take steps now to promote good governance by your board

Hogan Lovells on

Earlier this year, the Delaware Chancery Court approved a breathtaking $237.5 million settlement of derivative claims brought against Boeing’s board for breach of fiduciary duties regarding safety oversight. While the Boeing...more

Barnea Jaffa Lande & Co.

Guide to the ESGI

The ESG Index (ESGI) represents the three key spheres that encompass responsible investments (or “green investments”)—Environmental, Social, and Governance. The responsible investments market has been rapidly gaining momentum...more

Society of Corporate Compliance and Ethics...

[Event] Regional Compliance & Ethics Conference - March 28th, Phoenix, AZ

Looking for compliance training and networking in your area? SCCE’s Regional Compliance & Ethics Conferences offer practitioners convenient, local compliance training, including updates on the latest news in regulatory...more

Latham & Watkins LLP

10 Key Focus Areas for UK-Regulated Financial Services Firms in 2022

Latham & Watkins LLP on

Environmental, social, and governance (ESG) considerations have come to the forefront of firms’ regulatory change agendas in recent years, and this focus looks set to continue in 2022. The past year has witnessed significant...more

Morgan Lewis

Net Zero Asset Managers Initiative – Roadmap to a Compliant Commitment

Morgan Lewis on

While the Net Zero Asset Managers Initiative commitment (the NZAMI Commitment) is a clear signal to the market of an asset manager’s commitment to addressing the risks and challenges of climate change, it is a significant...more

Proskauer - Corporate Defense and Disputes

Northern District of California Dismisses Derivative Lawsuit Alleging Online Child Privacy Law Violations

The acronym “ESG” is shorthand for environmental, social, and governance concerns.  In recent years, companies have used “ESG” to refer to initiatives involving climate change, responding to racial injustice, and supporting...more

Parker Poe Adams & Bernstein LLP

U.S. Labor Department Tells Retirement Plans to Focus on the Money, Not Environmental or Social Issues

The U.S. Department of Labor recently finalized regulations that are likely to limit the use of retirement investments focused on environmental and social issues. On October 30, DOL issued a rule entitled “Financial Factors...more

Mayer Brown Free Writings + Perspectives

The Department of Labor’s ESG-less Final ESG Rule

On October 30, 2020, the U.S. Department of Labor (“DOL”) released its final regulation (“Final Rule”) relating to a fiduciary’s consideration of environmental, social and governance (“ESG”) factors when making investment...more

Latham & Watkins LLP

US Department of Labor Puts ESG Investing on Ice

Latham & Watkins LLP on

In its finalized rule amending ERISA, the DOL makes financial factors paramount in a fiduciary’s responsibility to investors. On October 30, 2020, the US Department of Labor (DOL) published Financial Factors in Selecting...more

Skadden, Arps, Slate, Meagher & Flom LLP

Stockholders Versus Stakeholders — Cutting the Gordian Knot

Directors of most for-profit U.S. corporations have long considered the corporation’s relationships with customers, employees, suppliers and the communities in which they operate — sometimes referred to as “stakeholders” — in...more

Skadden, Arps, Slate, Meagher & Flom LLP

An Alternative Paradigm to ‘On the Purpose of the Corporation’

Recently a definition of corporate purpose has been proposed and elaborated on in a memorandum captioned “On the Purpose of the Corporation” (the Corporate Purpose Memo)....more

Hogan Lovells

ESG and Fiduciary Duties

Hogan Lovells on

Doing good with other people's money. We now know that companies, investors and consumers care about ESG issues, so what does this mean for managers charged with driving investor returns? Can ESG be compatible with their...more

Latham & Watkins LLP

Warum die aktuelle Siemens-Diskussion auch für andere Unternehmen relevant ist

Latham & Watkins LLP on

Es wird viel über die Entscheidung von Siemens diskutiert, vertragsgemäß Signaltechnik für eine Zugstrecke zu liefern, die das australische Carmichael-Bergwerk mit dem Meer verbindet. Warum ist das Interesse hier so groß?...more

Wilson Sonsini Goodrich & Rosati

A Guidebook to Boardroom Governance Issues - Fall 2019

In recent years, we have seen boards and management increasingly grapple with a recurring set of governance issues in the boardroom. This publication is intended to distill the most prevalent issues in one place and provide...more

Perkins Coie

SEC Issues Guidance and Interpretation Aimed at Proxy Voting

Perkins Coie on

The U.S. Securities and Exchange Commission (SEC) held an open meeting on August 21, 2019, (the Open Meeting) and approved two items: (1) guidance regarding the proxy voting responsibilities of investment advisers under the...more

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