Articles by Ross Kerber and Shivani Tanna

Top Fund Managers Ask Federal Court to Dismiss Climate-Related Antitrust Lawsuit

BlackRoc, Vanguard and State Street have asked a federal court in Texas to dismiss a state lawsuit accusing the top fund managers of conspiring through climate activism to discourage coal output, with the firms saying the allegations rest on “half-baked …

Proxy Adviser Glass Lewis Sticks With Diversity Guidance, Will Flag Risks

Proxy adviser Glass Lewis will continue to consider boardroom diversity when advising how to vote at U.S. company annual meetings, but plans to be clearer about the counter argument for critical vote recommendations to help clients avoid rising political risks. …

Vanguard Pauses Corporate Meetings Over New ESG Guidance

Top mutual fund manager Vanguard has paused meetings with portfolio companies while it reviews the impact of new guidance on investor activism from the U.S. Securities and Exchange Commission, according to people familiar with the matter. In a recent notice, …

Trump’s SEC Leader Shifts Power From Investors to Boardrooms

New policies from the top U.S. securities regulator hand corporate boards more power over investors in ways that could curtail investor-initiated reform efforts on everything from climate policy to director contests, experts say. Since last month when U.S. President Donald …

Investor Climate Group Suspends Activities After BlackRock Exit: Reuters Exclusive

A flagship coalition aimed at aligning the asset management industry with global climate goals said it was suspending its activities on Monday, days after BlackRock, the world’s biggest investor, left amid a political backlash in the United States. The pause …

Companies Boost Social and Climate Reporting Amid ESG Backlash

Many U.S. companies have stepped up reporting on environmental and social matters in recent years even with sustained pressure from conservative politicians, data reviewed by Reuters shows. The trend shows the importance investors and regulators now place on environmental, social …

New York State Insurance Fund Swapped Coal Assets for Responsible Index ETF

Moving money from coal assets to a new responsible-investment exchange-traded vehicle provided the sort of quick win the New York State Insurance Fund was looking for when evaluating the climate and social impacts of its holdings, a top executive said …

Oklahoma Judge Blocks State’s Anti-ESG Law

A judge in Oklahoma blocked a state law that prohibits state pension systems from investing with companies that limit investment in the oil and gas industry. Oklahoma County District Court Judge Sheila Stinson on Tuesday issued a temporary injunction blocking …

JPMorgan, State Street Quit Climate Group, BlackRock Steps Back

JPMorgan Chase’s and State Street’s investment arms on Thursday both quit a global investor coalition pushing companies to rein in climate-damaging emissions, while BlackRock said it has transferred its membership to its international arm, limiting its involvement. The decisions together …

Companies Face Less Pressure for Climate and Social Reforms

Shareholder support for proxy resolutions on topics including climate change and workforce diversity dropped significantly this spring, analysts said, as tough proposals from activists met with growing political pressure on fund firms’ voting. Halfway through the shareholder annual meetings of …