Tag Archives: ESG

Labor Department Will Not Enforce Anti ESG Rule

The U.S. Department of Labor has announced that it will not enforce recently published final rules by the prior Administration on “Financial Factors in Selecting Plan Investments” and “Fiduciary Duties Regarding Proxy Voting and Shareholder Rights.” This policy statement is in furtherance of the Biden Administration issued Executive Order 13990, entitled “Protecting Public Health and … Continue Reading

SEC to Update Required Climate Related Disclosures

By Stuart Kaplow on February 28, 2021 Posted in Climate Change, ESG, Federal

On February 24, acting chair of the U.S. Securities and Exchange Commission Allison Herren Lee, offered insight into the future direction of mandatory climate change disclosures and new ESG regulation, when she directed the Division of Corporation Finance to enhance its focus on climate related disclosure in public company filings. The Commission provided guidance in … Continue Reading

There are More than 40 Million People in Modern Slavery

By Stuart Kaplow on February 7, 2021 Posted in ESG, LEED, Sustainability

A January 18, 2021 report by the UK Independent Anti Slavery Commissioner is both a wake-up call and a useful guide on preventing modern slavery and human trafficking. In the Western world there are low levels of awareness of the prevalence of modern slavery. Yet today there are more than 40 million people in modern … Continue Reading

Companies are Preparing for ESG Disclosure Rules

By Stuart Kaplow on January 24, 2021 Posted in Climate Change, Codes and Regulations

Public companies in the U.S. find themselves at a dynamic time of emergent environmental, social and governance (“ESG”) disclosures. New appointees in the Biden Administration, from the SEC and the Labor Department to the top White House economic advisor, all signal mandatory ESG disclosures. The idea of ESG began in 2004 with a United Nations … Continue Reading

GRESB Purchased from GBCI in advance of ESG Breakout

By Stuart Kaplow on December 20, 2020 Posted in GRESB, LEED

Last month GRESB announced that its management had purchased the business from its parent GBCI. GRESB was established in 2009 as the Global Real Estate Sustainability Benchmark by three pension funds who wanted to assess and benchmark the Environmental, Social and Governance (ESG) and other related performance of real assets, providing standardized data to capital … Continue Reading

SEC Alters Environmental Disclosure Requirements for First Time in 30 Years But

By Stuart Kaplow on September 20, 2020 Posted in Climate Change, Federal

A final rule the U.S. Securities and Exchange Commission adopted on August 26, 2020 and effective 30 days after publication in the Federal Register may be more significant for what is not in the rule. The rule is silent on ESG disclosures, including nary a mention of climate risk, but as described below the results … Continue Reading

ESG Going the Way of the Dodo?

By Stuart Kaplow on August 23, 2020 Posted in Environmental, GRESB, Sustainability

Earlier this month the U.S. Department of Labor put another nail in the coffin of environmental, social and governance (“ESG”) disclosures. Media sources have reported that the Employee Benefits Security Administration in the Department of Labor sent letters to a group of Registered Investment Advisors requesting detailed information within 2 weeks about their use of … Continue Reading

LEED can Help Mitigate Legal Risks in ESG Disclosures

By Stuart Kaplow on March 8, 2020 Posted in Environmental, LEED

Public companies in the U.S. find themselves at a dynamic time of emergent environmental, social and governance (“ESG”) disclosures. Vocal socially conscious investors, activist stockholder environmental proxy proposals, and the like are driving companies to make ESG statements. This blog post highlights the legal risk associated with ESG disclosures and proffers that with green building … Continue Reading

ESG Disclosure Simplification Act Passes Committee But Will Fail

By Stuart Kaplow on October 13, 2019 Posted in Environmental, Federal, Sustainability

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 companies to disclose “environmental, social, and governance [ESG] metrics” as material information about the company. Although there is little if any chance that the bill … Continue Reading

ESG, including Advantaged by Green Building, Requires Risk Oversight

By Stuart Kaplow on September 9, 2018 Posted in Environmental, Green Building, Sustainability

Stuart Kaplow ESG Report

Investments by individuals and institutions driven by environmental, social and governance matters continue to remain front and center in the minds of boards of directors, government regulators and the media. Of course, there is no single or even widely accepted definition of ESG and some have suggested that any analysis of environmental, social and governance … Continue Reading

Modern Slavery Exists and We Must Stop It Now

By Stuart Kaplow on September 2, 2018 Posted in Green Building, Sustainability

There is a lot of green building going on at BREEAM USA from a pilot program for BREEAM In-Use with multifamily properties to the certification of the first BREEAM USA In-Use office tower, but what is no doubt most impactful is the BRE Ethical Labour Sourcing Standard enabling businesses to commit to eliminating any possibility of … Continue Reading

Green Building Law Update

Environmental Law and Sustainability for Business