Overview
Litigation
On August 9, 2022, former workers at Malaysian rubber glover maker Brightway Holdings filed a lawsuit in the US District Court for the District of Columbia against Kimberly-Clark Corp and Ansell Ltd. The complaint alleges that forced labor is "rampant in the disposable glove industry in Malaysia," and claims that the defendants purchased gloves from Brightway for many years despite recognizing the existence and perpetuation of forced labor in their own supply chains. The complaint asserts claims for trafficking and forced labor in violation of the Trafficking Victims Protection Reauthorization Act (TVPRA).
Investigations
This month Missouri Attorney General Eric Schmitt announced an investigation into whether financial services firm Morningstar Inc. violated a state consumer-protection law through its evaluations of ESG issues. According to Schmitt's office, it is the first instance of a state looking into ESG ratings products potentially breaching such laws. It comes amidst increased political pressure over climate change and other ESG issues.
Legislation
On August 16, 2022, President Biden signed into law the Inflation and Reduction Act of 2022 (IRA). The bill was passed by the US Congress on August 12. The IRA includes $369 billion in investments in climate and clean energy programs, mostly toward tax credits for renewable energy. It is the largest investment in climate action in US history. Experts estimate that these investments could reduce carbon emissions by approximately 40% below 2005 levels by 2030.
Companies & Investors
On August 10, 2022, Ford Motor Company and DTE Energy, a Detroit-based energy producer, announced the largest renewable energy purchase from a utility in US history. The agreement will add 650 megawatts of new solar energy capacity in Michigan for Ford by 2025, at which point every Ford vehicle manufactured in Michigan will be assembled with the equivalent of 100% carbon-free electricity.
Statement
"This is not to say we won't produce any more beer, it's to say that we won't produce beer in the north – that's over."
President of Mexico Andres Manuel Lopez Obrador, August 8, 2022
At a daily press conference held this month, Mexico's President Andres Manuel Lopez Obrador said that production of beer in northern parts of the country, which are suffering from water scarcity is "over." President Lopez Obrador clarified that, "This is not to say we won’t produce any more beer, it’s to say that we won’t produce beer in the north – that’s over." Beermakers such as Heineken NV and Grupo Modelo have facilities in northern Mexico.
