In early February of 2016, the U.S. Supreme Court granted a stay of the Environmental Protection Agency’s (EPA) Clean Power Plan (CPP), freezing the rule’s implementation until final review by the courts. In response to petitions from more than two dozen states and many industry groups, this was the Supreme Court’s first stay of an administrative rule reversing the D.C. Circuit’s earlier denial. Full judicial review on the merits has begun before the U.S. Court of Appeals for the D.C. Circuit. Oral arguments are to be held on September 27.
The end of ESG? BlackRock admits adverse effects in SEC filing
BlackRock’s penchant for ESG is already coming back to bite it in the behind. In its annual filing with the Securities and Exchange Commission, the financial behemoth openly admitted its ESG activism poses a serious risk to its business. In the company’s words, the House of Cards could tumble “if BlackRock is not able to successfully manage...