Trump Administration Seen as Likely to Dismantle ESG Rules

[mahatmakanejeeves]

Bloomberg
Trump Administration Seen as Likely to Dismantle ESG Rules

Tim Quinson
Thu, November 7, 2024 at 12:05 PM EST • 2 min read

(Bloomberg) -- President-elect Donald Trump will likely move to dismantle ESG-related regulations in the US when he takes office in January.

That would mean blocking Securities and Exchange Commission rules for corporate and fund disclosures, and Labor Department requirements on pension funds, according to Rob Du Boff, a senior analyst at Bloomberg Intelligence. The new administration also is expected to put limits on ESG-related shareholder proposals filed during proxy season, he said. ... “The bottom line is the Trump administration is anxious to undermine these ESG-related initiatives,” Du Boff said.

{snip}

The SEC, under Chair Gary Gensler, already was under pressure from Republican politicians and corporate lobbying groups to water down the agency’s rulemaking around environmental, social and governance initiatives.

For example, the SEC voted earlier this year to impose climate-disclosure requirements that are significantly softer than those it proposed in March 2022. The change occurred after the agency received thousands of comment letters and numerous litigation threats over the plan.

{snip}

[walkingman]

1. I seriously doubt that sustainability is of any importance to the Trump administration.