Foley & Lardner LLP Partner Jim Lundy was quoted in a Law360 article titled “SEC's Peirce Finds Ally In Push Against ESG Reporting” that discusses the U.S. Securities and Exchange Commission's Hester Peirce and her new ally, newly appointed Republican member Mark Uyeda, in pushing back on ESG initiatives.
Commenting on the new allyship, Lundy said "It can be a lonely existence when you are the only remaining commissioner on the other end of the aisle. I'm not surprised to see [Peirce] embrace her new colleague early on in his tenure."
Lundy continued to explain Peirce and Uyeda likely wanted to make their views clear in the early stages of Financial Accounting Foundation’s foray into sustainability issues. He added that the initial joint statement indicates that "we should expect future efforts from them to take positions jointly regarding ESG and sustainability reporting issues."