ESG, Cyber Risk and Compliance
Ongoing wars abroad, political division and election year uncertainty in the United States, along with continuing state, federal, and global regulatory discord on sustainability and artificial intelligence, among other...more
The International Sustainability Standards Board (ISSB), established by the IFRS Foundation (IFRS), issued a comprehensive global baseline of disclosure standards to facilitate consistent and comparable disclosures on risks...more
Following completion by the International Sustainability Standards Board (ISSB) of IFRS S1 (General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures), on...more
A recent academic study covering the period 2010-2021 has found that many companies in the S&P500 currently are providing disclosure on ESG issues, and in the absence of mandated disclosure rules, do so on a voluntary basis....more
Blackrock’s recently released 2023 Investment Stewardship Global Principles, identifies several key themes to guide stakeholders and promote sound corporate governance regarding sustainability-related issues. At a high level,...more
From Amazon to Walmart, companies across the globe are striving to implement ESG initiatives that can stand up to increased scrutiny. The energy industry, like all industries, is facing the possibility of new standards...more
The move follows a number of similar standards that regulators and governments across the globe have proposed. With effect from 1 June 2022, the Guidance for Enterprise ESG Disclosure (the Guidance), published by...more
On March 21, 2022, the U.S. Securities and Exchange Commission (SEC) released a comprehensive set of proposed rules mandating climate-related risk disclosures for public companies (Proposed Rule). For some the release marks...more
Climate change has long been an area of focus for investors. Over the past several months, companies have come under greater scrutiny and have begun to face increased pressure from investors, regulators, activists, and the...more
On October 20th, SEC Commissioner Lee delivered a speech focused on the regulations concerning climate disclosures that the SEC is expected to issue soon. (Indeed, Commissioner Lee emphasized that these regulations are...more
The number of frameworks and standards in the environmental, social and governance (ESG) space can be overwhelming. While various organizations have set up different standards and frameworks, last year five of them — the...more
The past several years has seen growing attention on climate change disclosures and other environmental, social, and governance (“ESG”) issues. In 2016, a variety of universities faced pressure as student bodies demanded...more
The SEC recently issued a public statement asking investors, companies and other market participants to share their views on climate change disclosure. Comments are due by June 13, 2021 and can be submitted via the SEC...more
As society reckons with the enormous danger of climate change, there is no question that corporations must take responsibility for their contributions to rampant global warming, while working to reduce their emissions. For...more
In his 2021 letter to CEOs, BlackRock CEO Laurence Fink asked companies to disclose a “plan for how their business model will be compatible with a net zero economy”—that is, “one that emits no more carbon dioxide than it...more
Public companies will be required to disclose climate risks and greenhouse gas emissions under President-elect Biden’s administration. The Securities and Exchange Commission (SEC) will institute rulemaking and guidance on the...more
This blog doesn’t typically write about the goings-on at the Commodity Futures Trading Commission, but here’s an exception—especially given that its recommendations encompass the SEC. In July, the CFTC voted to establish a...more
Strong ESG credentials and long-term plans to improve their relationship with society and the environment are increasingly important to ensure companies’ access to capital. Environmental, social and governance (ESG) matters...more
Although the COVID-19 pandemic and the resulting sharp economic pullback has caused BlackRock to temporarily pause the prioritization of its ESG focus for issuers on climate change and related risk, Public Company boards...more
The SEC proposed updates to Regulation S-K to modernize, simplify and enhance financial disclosures, here. The SEC’s press release, here, summarizes the changes as well as any law firm memo (but see here and here if you don’t...more
In January 2020, two of the largest asset managers, State Street Global Advisors (SSGA) and BlackRock, emphasized that they will hold Boards of Directors accountable for not making significant progress on sustainability and...more
The Situation: BlackRock, the world's largest asset management firm, announced initiatives to make climate change and other sustainability issues a cornerstone of its investment strategy, including plans to increase offerings...more
Making waves in the financial world on January 14th, Laurence Fink, the CEO of BlackRock, Inc., the world’s largest asset manager, announced that BlackRock will be increasingly disposed to vote against board directors if...more
BlackRock’s Chairman and Chief Executive Officer Larry Fink issued his annual letter to CEOs and a letter to clients on January 14, 2020. Both letters focused on the importance of climate change and sustainability in the...more
On January 14th, BlackRock’s CEO Larry Fink issued his annual letter to portfolio company CEOs, this year titled “A Fundamental Reshaping of Finance.” The letter focuses on the potential effect that climate change will have...more