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Republican AGs Question Proxy Advisors on ESG and Debanking Positions

A group of 23 Republican AGs wrote a letter to proxy advisory firms International Shareholder Services, Inc. (ISS) and Glass, Lewis & Co. (Glass Lewis) warning the companies to cease prioritizing ESG initiatives in a manner that allegedly violates federal and state laws and the companies’ legal duties. In the letter, the AGs assert that…

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Republican AGs Appeal to the Fifth Circuit on Labor Department’s ESG Investment Rule

A coalition of 25 Republican AGs filed an appeal with the U.S. Court of Appeals for the Fifth Circuit in their lawsuit against the Department of Labor that challenges the implementation of a rule permitting retirement plan fiduciaries to consider environmental, social, and governance (ESG) factors when choosing plan investments. We previously covered the filing…

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Texas AG Warns Governmental Entities Not to Contract with Prohibited Companies

Texas AG Ken Paxton issued an advisory letter regarding state laws prohibiting governmental entities from contracting with businesses that boycott energy companies, discriminate against firearm entities or associations, or boycott Israel. In the letter, AG Paxton advises that no Texas governmental entity may enter into a contract for the purchase of goods or services of…

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Republicans Target Mutual Fund Directors in Latest ESG Probe

15 Republican AGs wrote a letter to ten mutual fund directors who helm funds for which BlackRock, Inc. serves as an investment adviser, requesting information regarding potential conflicts of interest and ESG investments. In the letter, the AGs raise concerns that the directors are not fully independent, citing to certain directors’ relationships with BlackRock as…

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