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Recent Editions
Risk Channel
North America
The Securities and Exchange Commission (SEC) has declined to pursue charges against major asset managers, including BlackRock, Vanguard, and State Street, over their involvement in climate-related shareholder activism ahead of ExxonMobil’s 2021 annual meeting. However, the regulator has warned that participation in coordinated investor campaigns, such as Climate Action 100+, could jeopardize eligibility for simplified, lower-cost ownership disclosures if those activities seek to influence corporate control or board appointments. The SEC has urged large investors to review their reporting obligations ahead of the 2027 proxy season, highlighting the growing regulatory scrutiny of environmental, social, and governance (ESG) engagement. BlackRock, Vanguard, and State Street have already scaled back their climate-related activities amid heightened legal and regulatory concerns.
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Risk Channel
UK/Europe
A meeting organised by the Airlines for Europe lobby group in Brussels has heard that the aviation industry must accept that there is “no absolute safety and security” to deter cockpit attacks such as the one that occurred during a recent FlyDubai flight, even with stringent vetting of pilots. Deutsche Lufthansa chief executive Carsten Spohr stressed the need to maintain a delicate balance between protecting passengers and ensuring employee privacy. “We have to face the fact that there is no absolute safety and security in this industry,” he said. “This is a very difficult area for regulators.” IAG chief executive Luis Gallego noted a decline over time in the number of dangerous situations involving pilots. “After [the FlyDubai] incident, in the same way we did in the past, we are going to work closely with the authorities to try to see if there is a way to continue to improve this,” he said.
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