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"Companies are responding to the public shame and making changes."
That's what Illinois State Representative Chris Welch told us in an interview for the latest episode of the ESG Insider podcast. He was explaining how the 2019 state law he sponsored requiring companies to report on their race metrics will be effective in increasing board diversity.
Welch is one of two state lawmakers we interviewed for the episode, which also features California Assemblyman Chris Holden, co-author of a new California law that pushes companies to embrace racial diversity on their boards.
And as U.S. elections draw closer, we also look at the potential for climate and clean energy legislation at the federal level. See our Chart of the Week for a breakdown of some of the climate policies in play and the Senate seats up for grabs.
Chart of the Week
Source: Rep. Chris Welch
Podcast: The 'name and shame' game: How 2 state laws tackle corporate racial diversity
In the U.S., the national dialogue has turned to race in 2020. Following George Floyd's death in police custody, companies have paid more attention to systemic racism and diversity in their own ranks. Investors are also increasingly talking about this topic as a human capital management issue. The latest episode of the ESG Insider podcast examines how corporate diversity laws enacted in Illinois in 2019 and in California in September 2020 aim to make publicly traded companies embrace racial diversity on their boards.
Climate action may still take backseat even if Democrats win Senate
Sweeping climate legislation is not guaranteed to get top billing in 2021, even if Democrats were to take both the U.S. Senate and the White House, according to market observers. Coronavirus recovery packages could feature green incentives, experts said, but legislation that focuses on the pandemic and the economy will be front and center in the year ahead.
Indonesian banks' first ESG reports suggest need for more guidance, data quality
As Indonesia's nonbank financial institutions, publicly listed companies and smaller commercial banks prepare to file their first mandatory sustainability reports next year, the industry is urging regulators to provide more guidance and incentives.
Eclipsed by wildfire smoke, Calif. solar power suffers 2-year setback
Solar is king, coal under pressure in 'pivotal' next decade – IEA
JPMorgan Chase adopts financing commitment aligned with Paris Agreement
Apparel, tech companies face most risk if US widens China sanctions over Uighurs
EU to issue €100B in social bonds to fund COVID-19 labor support program
Columbia Gas settlement tackles safety, climate change, environmental justice
Duke Energy defends gas, ramps up renewables to 'aggressively' cut emissions
Corporate green power deals grow larger as ESG pressure intensifies
Oil, gas industry will make changes to stay relevant in clean energy shift
Sustainable Investment Forum North America 2020
Sustainability Virtual Week
Forum on Green Finance and Investment
OECD Centre on Green Finance and Investment
ESG & Sustainability Forum
ESG Investment North America
BSR Virtual 2020
Responsible Business USA 2020
Sustainable Returns: ESG Investing
Questions or suggestions? Contact S&P Global Market Intelligence's ESG News team at ESGNews@spglobal.com