Topic
ESG
1,376 published works
The CLS Blue Sky Blog
Is There Too Much Disclosure?
In 2018 and 2019, the SEC released the first amendments to Regulation S-K to emerge from its decades-long project to “modernize and simplify” the disclosure obligations that apply to publicly…
Green Building Law Update
ESG Disclosure Simplification Act Passes Committee But Will Fail
On September 20, 2019, the Financial Services Committee in the U.S. House of Representatives passed H.R. 4329, the ESG Disclosure Simplification Act of 2019. The bill would require all public…
Environment, Land & Resources
US House Financial Services Committee Passes ESG Disclosure Simplification Act of 2019
Bill calls for new ESG disclosure requirements in the Securities Exchange Act of 1934 and formation of a Sustainable Finance Advisory Committee. By Paul A. Davies, James R. Barrett, and…
Global Regulation Tomorrow
ESG: German regulator launches consultation regarding guidance notice on sustainability
By Caroline Herkströter, Michael Born (DE)
On 24 September 2019, the German Federal Financial Supervisory Authority (BaFin) published a draft guidance notice on dealing with sustainability risks for consultation (link; only available in German). BaFin expects supervised…
The CLS Blue Sky Blog
Modern ESG Activism and Past Civil Rights Activism Compared
The embrace of shareholder activism as a tool to bring about broad social change is a welcome development. It reflects a trend of outsourcing public functions and values to private…
The CLS Blue Sky Blog
Wachtell Lipton Discusses Stakeholder Corporate Governance: Business Roundtable and CII
The failure of the Council of Institutional Investors to join the Business Roundtable in rejecting shareholder primacy and embracing stakeholder corporate governance is misguided. The argument that protection of stakeholders…
Global Regulation Tomorrow
New ESG insight video: Commission’s taxonomy proposal
By Beth Duff (BE), Simon Lovegrove (UK)
In our latest ESG insight video, Beth Duff and Simon Lovegrove discuss the European Commission’s EU taxonomy proposal for sustainable activities. For more videos and insights on ESG and sustainable…
Environment, Land & Resources
ESG Factors Spur Changes in UK Pension Scheme Disclosure Requirements
Changes to the Investment Regulations mean greater ESG disclosure requirements in statements of investment principles. By Paul A. Davies, Michael D. Green, and Shaun Thompson In response to trustees’ uncertainty…
The CLS Blue Sky Blog
Are Executives Really “Penny Wise and Pound Foolish” About ESG?
Critics of the shareholder-primacy model assert that it is flawed because it encourages managers to adopt a myopic view of profit generation that forgoes necessary investment and creates externalities borne…
The CLS Blue Sky Blog
Four Things No One Will Tell You About ESG Data
By Sakis Kotsantonis, George Serafeim
In a recent article, we seek to shed light on several important aspects of measuring and providing data about companies’ performance on environmental, social, and governance (ESG) issues. The article…