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Key Points - On October 18, 2023, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) took action to relax certain U.S. sanctions on Venezuela in response to the signing of an electoral roadmap...more
On March 21, 2023 the Oklahoma House of Representatives passed House Bill 2547, which claims to be “designed to continue protections of state pension funds from strategies that would be harmful to the state’s energy...more
Today, UBS Asset Management announced that it would divest from five energy companies, including ExxonMobil, because these companies are not adequately addressing climate change concerns. This action by a private sector...more
Annus horribilis. This is a moniker that oil and gas insiders might well apply to 2020 given the disastrous effects on the industry from Covid-19 pandemic (“Pandemic”) and its accompanying recession which brought a...more
The incumbent, Joko Widodo, declared victory in Indonesia's presidential elections over his challenger and former general Prabowo Subianto. The election commission said Mr. Widodo, widely known as Jokowi, won 55.5 percent of...more
Recent changes to the mining investment regime remind us that it is more important than ever to think ahead and carefully plan your mining divestment strategy. ...more
On October 22, 2018, the FTC announced it had reached a settlement with industrial gas suppliers Praxair, Inc. and Linde AG (the “Parties”) arising out of their proposed merger. According to the FTC’s Complaint, issued by 4-1...more
The Situation: Vietnam, like other developing countries, is challenged by the prominence of state-owned enterprises throughout its economy. The Development: The Vietnamese government has directed that state ownership in a...more
In the first few weeks of the Trump Presidency, there have been numerous marches, protests and other forms of political advocacy expressing views both in support of and in opposition to the President’s various appointments,...more
The Agency of Transportation has submitted a proposal to the House Transportation Committee that would allow the agency to seek damages from a utility that fails to move or adjust a utility line that is in a state or local...more
Late last month, California’s Insurance Commissioner announced that he had “asked all insurance companies doing business in California to voluntarily divest from their investments in thermal coal”. Thermal coal, also known...more
On January 25 the California Insurance Commissioner issued a press release, and also sent email messages to insurers licensed in California, indicating that he is requesting all insurers doing business in California to...more
Environmental and Policy Focus - CalPERS set to divest from thermal-coal companies: Los Angeles Times - Oct 18: The California Public Employees' Retirement System (CalPERS) Investment Committee will have a new task at...more
Public pension funds exist to provide retirement benefits to public employees. Cal. Const. Art. XVI, § 17(a). In 1992, the voters of California tried to eliminate political interference with the state’s retirement funds by...more