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European Commission Asks for ‘Greenwashing’ Reports

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The European Commission is stepping up its scrutiny of alleged “greenwashing” in its markets. Greenwashing is the conveying of a false impression or disseminating misleading information on how a company’s products, goals, and policies are more environmentally friendly. Earlier this month, the commission asked the European Supervisory Agencies to provide it with reports within two …

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States Fight Back Against ‘Woke ESG Investing’

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In the latest salvo against asset management firms, rating agencies, and proxy advisory companies, Missouri’s Attorney General Eric Schmitt has begun an investigation into Morningstar and its Sustainalytics subsidiary. Schmitt is seeking to discover whether the company has run afoul of a state consumer protection law with its evaluations of environmental, social, and governance issues. …

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BlackRock, ISS Criticized for ‘Unchecked’ Ability to Torpedo Shareholder Proposals

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Investment management giant BlackRock voted in 2021 in support of 149 U.S. shareholder proposals related to environmental, social, and governance issues at companies’ annual general meetings. Including four abstentions, that total represented 28.9% of all votes BlackRock cast on 516 U.S. ESG-related issues. Globally, BlackRock cast 950 votes on shareholders’ ESG-related proposals, supporting 288 (30.3%). …

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Corporate Governance Think-Tank Leading the Charge for Accountability on ESG Standards

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The environmental, social, and governance industry has been the target of critics who have attacked it on many fronts. They have chided ESG over inconsistent metrics, pointed out disappointing fund performance, and chastised ESG funds for their higher fees. There have also been regulatory probes into ESG units at financial institutions. These and other issues …

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ESG, Hyundai, and Modern Slavery

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While it may seem incomprehensible today, some 40 million people worldwide fall under a modern definition of slavery. Chattel slavery, where one person owns another person, is illegal worldwide, but modern slavery includes such practices as forced labor, debt bondage, human trafficking, and forced marriage. Nearly 62% (24.9 million) of people living in modern slavery …

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Proxy Advisors are at the Root of Misleading ESG Claims; The SEC Must Regulate Them Alongside Asset Managers

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Proxy advisors are the hidden force behind the rise of the ESG (environmental, social and governance) movement and its morph into a large-scale grift wherein American companies and investors are the victims. This little-known industry, dominated by Institutional Shareholder Services and its smaller competitor Glass Lewis, has fundamentally changed ESG. What began as a public …

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Boardroom Is Not Forum for ESG Issues

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Environmental, social, and governance proposals submitted to companies have been on the rise, but corporations’ acceptance has lagged behind, according to one study. This year, shareholders presented 924 ESG proposals to companies in the Russell 3000, up from 837 the previous year, according to the strategic shareholder communications and consulting services business Georgeson & Company …

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