Tag Archives: Investment

Investors Don’t Think That Climate Change Is A Hoax: BlackRock Is Losing Its Patience

This post, written by Seth Jaffe, a Partner in firm’s Environmental practice, was originally posted on the firm’s Law and the Environment blog.

BlackRock, which manages more than $5 trillion in assets, has released a statement on how it “engages with climate risk.”  The statement has three main elements.  

  • Support for the Financial Stability Board’s Task Force on Climate-Related Disclosures
  • Engagement with companies over assessment on climate risks
  • An indication of potential support for shareholder resolutions on climate risk,…
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Five on Friday – Five Recent Developments that We’ve Been Watching Closely

iStock_000011057325XSmallIt’s Friday and time for another overview of developments in the field of business and human rights that we’ve been monitoring.

This week’s post includes: the first reports published pursuant to the requirements of the U.K. Modern Slavery Act; an overview of social and environmental shareholder proposals filed for the 2016 proxy season; and a new effort to benchmark technology companies on their policies and practices with regard to forced labor in their supply chains.… More

Legal Perspectives on a “Game Changer” for Responsible Investment in the United States

iStock_000058619978_SmallThe Principles for Responsible Investment (“PRI”) recently published a report, Addressing ESG Factors Under ERISA, that sets forth two legal perspectives on the ability of fiduciaries to consider environmental, social, and governance (“ESG”) factors in their investment decision-making.

The report builds upon an interpretative bulletin released by the U.S. Department of Labor in October 2015. The bulletin, previously discussed here,… More

World Exchanges Encouraged to Report Indicators of Long-Term Sustainability

iStock_000008840900XSmallOn November 4th, the World Federation of Exchanges (WFE) released a set of 34 sustainability measures that include environmental, social and governance indicators. WFE recommends that its member exchanges implement these indicators into the disclosure requirements for listed companies.

The WFE is an industry trade organization made up of 99 organizational members, including 64 regulated exchanges (such as NASDAQ and NYSE) across the globe.… More

The New Foreign Direct Investment Law in Burma (Myanmar): The Tiger Sniffs

HiRes(1)Burma’s Hluttaw, or Parliament, passed a new Foreign Direct Investment Law on September 7. Few details on the legislation are yet available, and we have seen only partial translations, although the final version reportedly is preferable to its draft predecessor. President Thein Sein has not yet signed it into law.

From the information available thus far, it is clear, however, that the law is a significant improvement on the version that the lower Hluttaw passed earlier this summer,… More

Fools Rush In: Social and Environmental Due Diligence in Burma (Myanmar)

Following the success of Daw Aung San Suu Kyi and her National League for Democracy (“NLD”) party at the polls and today’s announcement that the United States will soon lift some of its sanctions against Burma, companies are closely scrutinizing the possibility of conducting business in the long-isolated country. 

Recent events should not, however, be considered a green light to conduct business in Burma for at least two reasons:  … More