Here is an update on key legislation affecting not only lawyers, but all Hoosiers statewide. Updates are as of March 10.
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Indiana Secretary of State Diego Morales sent a cease and desist letter on Thursday to BlackRock — the world’s largest asset manager — for alleged securities fraud, accusing the company of making “false and misleading statements” about their environmental, social or governance (ESG) funds and allocation focus.
State officials are actively vetting the Indiana Public Retirement System’s portfolio of asset managers to weed out those practicing ESG investing, a type of investment strategy that considers the costs and risks associated with environmental, social or governance concerns.
Indiana Attorney General Todd Rokita, along with 19 other state attorney generals, have sent a comment letter to the Federal Energy Regulatory Commission that questions federal authorizations for investment companies engaging in socially and environmentally conscious investing.
Indiana’s Public Retirement System (INPRS) says it’s “ahead of schedule” in pulling out of its Chinese investments after lawmakers approved a ban in May.
Law firms in Indiana and across the globe are seeing increasing demand for legal advice on initiatives that measure corporate responsibility in the areas of environmental impact, social concerns and corporate governance.
Lawmakers on Wednesday stripped long sections out of a controversial bill cracking down on the state’s pension investment managers, inserting a simplified structure that would reduce the fiscal impact to zero, according to the proposal’s author.
Proposed legislation in the Indiana Legislature has put a spotlight on two schools of thought when it comes to investing public pension funds.
President Joe Biden issued the first veto of his presidency Monday, seeking to kill a Republican measure that bans the government from considering environmental impacts or potential lawsuits when making investment decisions for Americans’ retirement plans.
Winds of change swirl often; however, certain “evolutionary gusts” seem particularly persistent right now.
Conservative Republicans who want to thwart socially and environmentally conscious investing are now being pushed to water down their proposals after backlash from powerful business groups and fears that state pension systems could see huge losses.
A controversial proposal cracking down on alleged ESG investing in public pensions — while supporting “discriminated” businesses in contentious industries — passed the Indiana House mostly along party lines Monday.
Companies both large and small continue to grapple with how ESG issues affect their risk management, strategic investments and external reporting.