West Virginia SB739 establishes the Protecting Shareholders Act, defining fiduciary duty breaches when prioritizing environmental, social, and.

West Virginia SB739, the Protecting Shareholders Act, amends the state code by adding definitions and standards for fiduciary duty breaches. It defines "environmental, social, and governance" as a framework measuring non-financial business behavior, including greenhouse gas emissions, diversity, equity, and inclusion. The act establishes that prioritizing these interests over financial returns to shareholders constitutes a breach of fiduciary duty. This legislation aims to protect shareholders by ensuring directors and officers focus on maximizing financial returns.

West Virginia SB739 establishes the Protecting Shareholders Act, defining fiduciary duty breaches when prioritizing environmental, social, and.

West Virginia SB739, the Protecting Shareholders Act, amends the state code by adding definitions and standards for fiduciary duty breaches. It defines "environmental, social, and governance" as a framework measuring non-financial business behavior, including greenhouse gas emissions, diversity, equity, and inclusion. The act establishes that prioritizing these interests over financial returns to shareholders constitutes a breach of fiduciary duty. This legislation aims to protect shareholders by ensuring directors and officers focus on maximizing financial returns.