Section: May 11, 2023 | Vol. 28, Issue 18
U.S. Asset Owners Advisory Council Members Appointed, CII’s NIRS Rep Reappointed

CII’s board appointed 18 members to the U.S. Asset Owners Advisory Council for 2023-24 and reappointed Jay Stoffel as CII’s representative to the board of the National Institute on Retirement Security (NIRS).
Florida Law Blocks Consideration of ESG Factors in Investment Decisions

Florida Governor Ron DeSantis signed into law May 2 a bill that requires the Florida State Board of Administration (FSBA) and the asset managers it hires to make investment and proxy voting decisions based “solely on pecuniary factors.” without consideration of “social, political or ideological interests.”
BRT Appeals Decision Affirming SEC’s Rollback of Provisions in Proxy Advisor Rules

The Business Roundtable (BRT) announced May 4 that it is appealing an April 24 ruling by a judge in Tennessee affirming the SEC’s power to roll back rules on proxy advisory firms that had been adopted during the Trump administration.
NYC Comptroller’s Office Continues to Push for Board Matrices Showing Diversity
The New York City Comptroller’s Office filed proposals at four companies requesting standardized disclosure of diversity on their boards. The proposals, which were submitted to Capital One, Caesars Entertainment, Las Vegas Sands and NextEra Energy, ask the companies to provide matrices that disclose the race, gender, relevant skillsets and attributes of their board members.
Groups Rally to Remove Chevron Directors Over Climate Concerns
Wespath Benefits and Investments and Majority Action, prompted by environmental concerns, have launched vote-no campaigns aimed at unseating directors at Chevron’s May 31 annual meeting.
ISSB Seeks Input on Near-Term Work Plan

The International Sustainability Standards Board (ISSB) last week launched a consultation to help inform its strategic focus through 2025. Accepting comments through September 1, the ISSB especially wants to know how to prioritize four topics on the board’s front burner for disclosure standardization:
Investors with $10 Trillion in AUM Demand Action on Plastics from Large Companies

A coalition of 185 investors that collectively hold $10 trillion in assets under management sent a letter asking companies in the consumer goods and grocery retail sectors to aggressively reduce their reliance on single-use plastics.