A major new legal challenge to environmental, social, and governance (ESG) investing was filed in New York City this summer. Gibson Dunn partner and former Secretary of Labor Eugene Scalia represents the municipal employees who are suing three New York City pension funds for violating their fiduciary duties by divesting from energy companies.

Previously, then-Secretary Scalia presided over a U.S. Department of Labor rulemaking that sought to protect the beneficiaries of pension funds by reinforcing the longstanding legal requirement of fund managers to focus solely on providing financial returns, rather than engaging in ESG-style policy advocacy with their entrusted capital. President Biden’s Department of Labor published a rule allowing pension funds to use ESG factors in making investment decisions, putting U.S. retirees at risk of future losses.

Eugene Scalia is a partner in the Washington, D.C. office of Gibson, Dunn & Crutcher, co-chair of the firm’s Administrative Law and Regulatory Practice Group, and a senior member of the firm’s Labor and Employment Practice Group and Financial Institutions Group. He returned to the firm after serving as the U.S. Secretary of Labor from September 2019 to January 2021.

Event Details

Invitation only.

Questions? Please email [email protected] or 202.331.2764

Cocktails available downstairs, followed by dinner upstairs.

Parking recommendations:

Street parking is available after 6:30 pm. The Franklin Square Garage, just past the firehouse on 13th St NW between L and K, is open until midnight.

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