Hello, Briefing: Governance blog subscriber.
Please be on the lookout for an exciting enhancement to our coverage of ESG and related topics, debuting next week.
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Continue Reading Heads up – Briefing: Governance blog
The Biden Executive Order on Climate-Related Financial Risk (the Executive Order) is the latest significant step by the Administration to analyze and mitigate the risks that climate change poses to the U.S. economy, businesses, workers and the financial system. Our…
Continue Reading Davis Polk Client Memo: Private Sector Implications of Biden’s Executive Order on Climate-Related Financial Risk
On March 19, 2021, the SEC’s Asset Management Advisory Committee (AMAC) held a meeting to discuss the December 2020 potential recommendations that its ESG Subcommittee provided to the SEC on ESG disclosure requirements. During the meeting, the Diversity & Inclusion…
Continue Reading SEC Committee Discusses ESG Disclosure Requirements and D&I
Today, the SEC released a statement by Division of Corporation Finance Acting Director John Coates on ESG disclosure. In this post, we provide our observations on what his statement may indicate about the direction of globally coordinated efforts on ESG…
Continue Reading SEC Signals Support for Single Global ESG Disclosure Framework
Yesterday, the Securities and Exchange Commission announced a newly created Climate and ESG Task Force in the Division of Enforcement. The announcement is a reminder for public companies, investment advisers and funds to prepare for increased enforcement scrutiny regarding ESG…
Continue Reading Davis Polk Client Memo: SEC Establishes Enforcement Division Climate and ESG Task Force
SEC Chair Hearing. Yesterday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a nomination hearing to consider Gary Gensler’s candidacy for Chair of the Securities and Exchange Commission, or SEC. Throughout the hearing, Gensler fielded numerous questions…
Continue Reading SEC Chair Nominee Gensler and SEC’s 2021 Examination Priorities Highlight ESG and Climate Risk
The Federal Reserve’s final guidance on board of directors’ effectiveness (Board Effectiveness Guidance) is a key milestone in its multi-year review of the practices of boards of directors, particularly at the largest banking organizations. This memorandum describes the final Board…
Continue Reading Davis Polk Client Memo: Federal Reserve Finalizes Board Effectiveness Guidance for Large Financial Institutions
Yesterday, the SEC released a statement on climate change disclosures. The statement directs the SEC staff to review company disclosures against its 2010 climate change disclosure guidance. In light of these events, this client alert provides our prior comprehensive summary…
Continue Reading Davis Polk Client Alert: SEC to Review Climate-Related Disclosure
On February 8, 2021, ISS announced the updated methodology guide the firm uses to determine a company’s Governance QualityScore (GQS), its proprietary rating system designed to help institutional investors assess companies for governance quality and risk. Seventeen new factors have…
Continue Reading ISS Issues 2021 Governance QualityScore Methodology Updates
Yesterday, BlackRock released its annual Letter to CEOs, which is also commonly referred to as the “Fink Letter.” With the firm managing approximately $9 trillion in assets, this open letter is widely read by public companies, market participants and…
Continue Reading BlackRock’s 2021 CEO Letter – What It Means for Public Companies, Issuers of Public Debt, Large Private Companies, and Their Boards
