In the ongoing scrutiny of legislative actions aimed at regulating investment practices, few topics elicit as much debate as environmental, social, and governance (ESG) standards. A recent legal dispute in Oklahoma exemplifies the tension between state officials’ investment strategies and the principles of transparency that underpin public governance. Treasurer Todd Russ and key members of
Politics
In a groundbreaking announcement, New York City Comptroller Brad Lander has formally supported a policy aimed at excluding fossil fuel infrastructure from the city’s pension investments. This decision, if enacted, will position three significant pension funds in New York as pioneers in the attempt to mitigate climate risk through responsible investment strategies. As climate change
In a significant move aimed at addressing the city’s substantial financial burden, the Chicago City Council has opted to refinance $1.5 billion in municipal debt. Following initial hesitation during the council’s meeting on October 9, the approval was finally secured with a 35-12 vote, allowing the finance team to plan bond issuance for the final
On October 23-24, 2023, the Municipal Securities Rulemaking Board (MSRB) convened for its first quarterly board meeting of fiscal year 2025. A significant outcome from this meeting is the upcoming request for information (RFI) regarding the board’s rate card fee-setting approach. This request signifies not just a mere procedural update but an essential pivot in
As urban areas across the nation grapple with the ever-growing demands of transportation infrastructure, the recent decision by North Carolina to advance its most ambitious transportation project underscores a critical evolution in public infrastructure financing. This project, which entails a significant expansion of the Interstate 77 corridor in Charlotte, stands as both a beacon of
The Financial Data Transparency Act (FDTA) of 2022 has turned into a contentious focal point for participants in the municipal securities market. Following its enactment in December 2022, the law mandates municipalities to transition their financial disclosures into machine-readable formats, promoting transparency and efficiency. However, as comments flood into the Securities and Exchange Commission (SEC)
In a departure from traditional investor conferences, Houston Controller Chris Hollins hosted an event aimed at showcasing the city’s investment opportunities without the anticipated support from key city officials. This rift has emerged following Mayor John Whitmire’s concerns regarding corporate sponsorships, which he deemed potentially unethical, spurring a request for an investigation. Whitmire’s allegations suggest
In a significant turn of events, Houston managed to avert a catastrophic blow to its fiscal 2025 budget, following Texas state officials’ decision to allocate funds for debris removal necessitated by severe storms. This moment of relief, however, casts a spotlight on the broader financial challenges that Houston faces, challenges that stem not only from
As cities across the United States begin to emerge from the fiscal support provided by the American Rescue Plan Act (ARPA), they encounter new challenges in managing their budgets and ensuring financial stability. The transition from reliance on federal funds to self-sustaining financial practices has prompted a critical reassessment of local fiscal policies. With soaring
In a dramatic clash of leadership, Houston Mayor John Whitmire has publicly criticized city Controller Chris Hollins over the controversial sponsorship of an upcoming investor conference, raising unsettling questions about ethics and accountability. As Whitmire leveled accusations of “pay-to-play” against Hollins, a broader discussion about governance, financial integrity, and public trust in city administration emerged,