ESG backlash

More legal pushback on anti-ESG legislation and investigations expected.

Representatives of Federated Hermes, JPMorgan and Wells Fargo were among the listed attendees for a State Financial Officers Foundation (SFOF) conference this week. 

Academics say it could have implications for proxy voting process at institutional managers.

Clearbridge’s Derek Deutsch says US situation is ‘troubling’ and hits out at political point scoring.

Fidelity Investments and Wells Fargo declined to comment on whether they planned on following suit and/or reviewing their sponsorship.

Officials from New York City, California, Rhode Island, Washington and Oregon are among the signatories.

Documents show that provider's ESG ratings and data were used to identify first tranche of financial firms to target under new legislation.

Investment Company Institute tells state officials to prioritise Texas families over partisanship as 10 firms and 350 funds are added to divestment list.

Fidelity, Federated Hermes, Invesco, JPMorgan and Wells Fargo remain on the SFOF list as documents reveal details of sponsorship packages.

Tom Cotton claimed the investor did not respond to his 14 July letter, despite providing comment to Responsible Investor.