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Action–reaction: US financial regulation meets ESG considerations

Author

Listed:
  • Naimon, Jeffrey P.

    (Partner, Buckley, USA)

  • Stapleton, Caroline M.

    (Senior Counsel, Buckley, USA)

  • Litchfield, Benjamin M.

    (Associate, Buckley, USA)

Abstract

In this paper recent legislative trends in the United States in response to environmental, social and governance (ESG) measures adopted by financial institutions are discussed. The paper explores new sources of potential compliance risk associated with states enacting and enforcing so-called anti-ESG laws, which are designed to protect firms such as fossil fuel companies and gun manufacturers from the expected detrimental impact of socially responsible banking and investment policies. It refers to existing anti-discrimination compliance paradigms to provide insights regarding how financial institutions may minimise the compliance risk associated with these anti-ESG measures.

Suggested Citation

  • Naimon, Jeffrey P. & Stapleton, Caroline M. & Litchfield, Benjamin M., 2023. "Action–reaction: US financial regulation meets ESG considerations," Journal of Financial Compliance, Henry Stewart Publications, vol. 6(3), pages 267-280, March.
    • Handle: RePEc:aza:jfc000:y:2023:v:6:i:3:p:267-280
    as

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    More about this item

    Keywords

    environment; social; governance; ESG; banks; anti-discrimination;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K2 - Law and Economics - - Regulation and Business Law

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