By Ross Kerber
Oct 15 (Reuters) - This is the weekly Reuters Sustainable Finance Newsletter, which you can sign up for here .
U.S. President Donald Trump and his appointees have had a pretty good run pressing institutions to bend the knee such as the installation of a new ombudsman at CBS News last month or the departure of the University of Virginia's president in June.
But the administration's talk of cracking down on liberal nonprofits may find a more unified opposition, based on what I heard in reporting this week's main story, linked below.
There are also links to our coverage of a big change by proxy adviser Glass Lewis and news about a Nobel prize that gives me a chance to flag my favorite phrase in economics.
Please follow me on LinkedIn and/or Bluesky. You can reach me via ross.kerber@thomsonreuters.com
MacArthur Foundation chief builds solidarity
Universities, businesses, law firms and other U.S. institutions under pressure from President Donald Trump's administration have largely taken a go-it-alone approach when deciding how hard they will resist or whether they will accept terms.
In contrast, much of the philanthropic sector has chosen unity, with many of the largest foundations standing together to defend their giving and investment practices.
So far 736 organizations have signed a statement organized by the Council on Foundations objecting to "the threat of governmental attacks" on their work, such as Trump's directive to officials to stop funding groups "that undermine the national interest."
But not all the top philanthropic players have weighed in. My review of 10 of the largest U.S. foundations found about half have not signed the Council statement. So is the signup rate a win, loss or draw for the cause of collective action?
I interviewed the head of the MacArthur Foundation on that topic and what lessons other institutions might take away. You can read my findings in this week's column, linked here.
Company news
The European Union's antitrust watchdog fined Gucci,PRTP.PA Chloe CFR.S and Loewe LVMH.PA a total of 157 million euros ($182 million) for fixing the resale prices of their retail partners.
Influential proxy adviser Glass Lewis will end its benchmark voting recommendations in 2027 and offer new options for clients, changes that follow pressure it and a rival face from U.S. Republican politicians.
Three academics shared the 2025 Nobel Prize in Economic Sciences for their work on how innovation and the forces of "creative destruction" can drive economic growth.
On my radar
Only 30% of nearly 1,900 companies in the MSCI ACWI Index .MIWD00000PUS produce comprehensive disclosures on the financial risks they face from climate change, according to new research using large language models from Clarity AI.
Paul Atkins, chairman of the U.S. Securities and Exchange Commission, suggested Wall Street's top regulator should look favorably at certain efforts by companies to skip shareholder votes. That could spell a higher bar for investor activists.
How might businesses and governments capitalize on the next wave of Middle East growth? Register now to watch the live broadcast of our first #ReutersNEXTGulf summit in Abu Dhabi on October 22, featuring Damac Chairman Hussain Sajwani and NEOM CIO Manar Al Moneef.
(Reporting by Ross Kerber; Editing by David Gregorio)
((ross.kerber@thomsonreuters.com; (617) 412 0093;))