For observers wondering what the new administration means for ESG, look no further than President Biden’s swift order to rejoin the Paris Climate Agreement. This early action may be a signal to the Securities and Exchange Commission – that it can play a critical role in moving forward Biden’s ESG priorities, including requiring companies to disclose more details about their environmental impact. Financial Times’ Moral Money points out that while Gary Gensler, a veteran regulator and Biden’s pick to head up the S.E.C., may know more about cryptocurrencies than climate change, he has a track record of driving regulatory changes.
Starboard Value delivered its anticipated letter to the Corteva board of directors on Thursday, as first reported by the Wall Street Journal. Citing “missed promises” and “operating performance,” the activist investor seeks to nominate eight directors to the board and called for the ouster of CEO Jim Collins, but declined to name their preferred replacement.
Meanwhile, employee-based activism is taking center court in discussions around the sale of the Atlanta Dream, a Women’s National Basketball Association franchise team. Players around the league have been pressuring former Georgia Sen. Kelly Loeffler, to sell her share of the team over her objections to the league’s position on the Black Lives Matter movement in 2020. According to ESPN, Loeffler is “expected to have no association with the franchise after the sale.”
Have a great weekend,
Danielle
