From Boom to Backlash-Guiding Directors

Upcoming Events

John M. Clayton Hall

February 13, 2025

From Boom to Backlash: Guiding Directors in a Shifting ESG Landscape

Time:  2:00 pm – 5:00 pm
Location:  Clayton Hall, University of Delaware, Newark, DE
In-Person Program
Reception to follow
Registration is Now Open

 

This interactive gathering marks the fourth annual event addressing director duties amid the waxing and waning of the ESG movement, hosted by the Weinberg Center at the University of Delaware, led by John W. White of Cravath, Swaine & Moore and Lawrence Cunningham of the Weinberg Center. Our panelists, representing a wide cross-section of perspectives, will offer practical advice tailored to corporate directors as well as those who advise them and university students interested in related topics.

Rather than focusing on specific ESG rules or challenges to them, this session will explore how directors can fulfill their duties effectively amid a landscape of shifting expectations and mounting criticism, from ESG backlash to “green hushing.” The group will also delve into the importance of reliable data for ESG and other corporate disclosure, addressing how to ensure that directors and investors receive useful information.

The discussion will revisit key themes such as board oversight and the role of corporate leadership in addressing ESG debates, while offering updated perspectives on the growing pushback against ESG. Other new topics this year include how directors can reconcile ESG issues with their primary responsibilities of overseeing CEOs and shaping corporate strategy, and where the line should be drawn between board oversight and managerial discretion on ESG topics.

An underlying theme: even as debate over ESG continues, directors’ fundamental functions and duties remain stable. Our goals are to empower directors, their advisors, and the next generation of accounting and finance professionals with the insights they need to excel.

Confirmed Participants
  • Donna Anderson (T. Rowe Price)
  • Michael Arnold (Cravath, Swaine & Moore)
  • Paul Beswick (Ernst & Young)
  • Lawrence Cunningham (University of Delaware)
  • Mary Francis (Chevron Corporation)
  • William Lafferty (Morris Nichols Arsht & Tunnell)
  • Michael Montelongo (GRC Advisory Services)
  • Polia Nair (CohnReznick)
  • Anne Sheehan (PJT Camberview)
  • Kent St. Pierre (University of Delaware)
  • John White (Cravath, Swaine & Moore)
Recommended Reading
  1. Sanjai Bhagat, An Inconvenient Truth About ESG Investing, Harvard Business Review (March 31, 2022)
  2. Bradford Cornell & Aswath Damodaran, Valuing ESG: Doing Good or Sounding Good? (2020)
  3. Lawrence Cunningham, The Rise and Stall of ESG, Directors & Boards (Feb. 16, 2024)
  4. Alex Edmans, The End of ESG, Financial Management (2023)
  5. William M. Lafferty et al, A Brief Introduction to the Fiduciary Duties of Directors Under Delaware Law, Penn State Law Review (2012)
  6. Luh Luh Lan & Walter Man, ESG and Directors’ Duties: Defining and Advancing the Interests of the Company, Journal of Corporate Law Studies (2024)
  7. Martin Lipton, et al., Risk Management and the Board of Directors (Sept. 30, 2023) (Section VI)
  8. Ross S. Clements, The Directors’ Role Amid Debates over Corporate Purpose, Stakeholders and ESG, Mayer | Brown (Mar. 2023)
Student Writing Competition: Cash Prizes

As part of this panel discussion, the Center will host a writing competition for students from the University of Delaware and other universities, including Delaware Law, Delaware State, Drexel, Maryland, Penn, St. Joe’s, Temple, Villanova, and Wilmington University. Students who attend the panel (in full or for the majority) will be invited to submit a short paper (1000 to 2000 words) summarizing the discussion, highlighting major themes, outlining key takeaways, and identifying open questions for debate. Submissions will be due by the close of business February 20.  Submissions may be written by single or multiple authors.  The Center’s staff and leadership will review all submissions and choose the three best papers; each paper will be awarded a $500 prize.

For any questions, please contact the Weinberg Center at nrich@udel.edu