Posts Tagged ‘ESG’
Nasdaq Obtains SEC Approval for New Board Diversity Rule
Last month, Nasdaq obtained approval from the U.S. Securities and Exchange Commission (SEC) to require a new board diversity rule for public companies listed on its stock exchange. According to a fact sheet issued by Nasdaq, the rule is intended to “encourage a minimum board diversity objective for companies and provide stakeholders with consistent, comparable…
Read MoreOFCCP Releases 2021 CSAL Schedule
The U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) has released its Corporate Scheduling Announcement List (CSAL) for the 2021 fiscal year. Included in the list are 750 federal contractor and subcontractor establishments that will be audited by the OFCCP. Of the 750 total audits, there will be 668 establishment reviews, 19…
Read MoreCalifornia DFEH Sues Activision Blizzard for Systemic Discrimination
Following a two-year investigation, the California Department of Fair Employment and Housing (DFEH) sued the entertainment gaming giant, Activision Blizzard for systematic discrimination on July 21, 2021. Included in the extensive complaint filed in the Los Angeles County Superior Court are allegations of “frat boy” culture, sexual harassment, unequal pay, retaliation, and gender-based discrimination. The…
Read MoreESG Stocks Perform Better, But Rankings Can Vary Widely
It’s no secret that public companies that are ranked highly for their environmental, social, and governance (ESG) efforts are performing well with investors – better, in fact, than those who aren’t. What’s not so well known is that the rankings can be dramatically different depending on who’s providing them. The Wall Street Journal (WSJ) recently…
Read More2021 Could Be the Year The Equality Act Becomes Law
Earlier this year, the House of Representatives voted to pass the Equality Act. The bill will now make its way to the Senate and if approved, would amend Title VII of the Civil Rights Act of 1964 to include protections for members of the LGBTQ community. First introduced in 2019, the Equality Act includes major…
Read MoreSEC Increases its Focus on ESG-related Disclosures
As more and more investors are turning to companies who demonstrate commitment to environmental, societal, and governance (ESG) issues, the more that government agencies are focusing on companies’ ESG disclosures. Case in point: the Securities and Exchange Commission is taking a closer look at whether or not registered investment advisors’ (RIAs) strategies actually match what…
Read MoreESG a Top Priority for Mutual Fund Managers, Investors
Environmental, social, and governance (ESG) issues are becoming a top priority for mutual fund managers and investors alike. More specifically, the focal point is how employers are addressing them. Companies (including special purpose acquisition companies, or SPACs) that want to be included in mutual funds need to know that they’ll be under greater pressure to…
Read MoreHR.com Report Finds Employers Have Room to Improve on DEI Initiatives
HR.com recently issued a report on a survey they ran regarding employers’ outlook towards Diversity, Equity, and Inclusion (DEI) initiatives for 2021. The report, The Future of Diversity, Equity and Inclusion 2021, includes survey data collected between December 2020 and January 2021 from 374 HR professionals across the world, with the majority residing in North…
Read MoreHow to Prepare for the ESG Reckoning: Three Essential Steps
When two founding members of Bain Capital’s impact investing fund sound the alarm that An ESG Reckoning Is Coming, employers should take note. Michael O’Leary and Warren Valdmanis cover a lot of ground in their new article for the Harvard Business review, from Nikola’s disastrously fake zero-emission semi-truck commercial to Former U.S. Attorney General Loretta Lynch’s…
Read MoreThe Final ERISA ESG Investment Rule is Not So Final
What appeared to be the final ESG investing rule issued by the U.S. Department of Labor (DOL) on October 30, 2020, is now in flux. The final ESG investing rule, which applies to a 401(k) or 401(b) type plan, had required ERISA plan fiduciaries to base investment decisions on financial factors alone, prohibiting fiduciaries from…
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