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News Roundup - SEC Proposes ESG Rules for Funds, New Standards Institute Launched by HRCI

Here’s a roundup of news and viewpoints about Stakeholder Capitalism, Human Capital Management, and Enterprise Engagement.
ESM periodically compiles news and commentary posted on the LinkedIn page of its founder Bruce Bolger, publisher of ESM. 

Securities and Exchange Commission Proposes Name Rule Update That Would Require ESG Funds to Define Criteria for Evaluating Companies
Promoters of human capital reporting who were hoping for the issuance of draft US Securities & Exchange Commission regulations for metrics-based disclosures were probably disappointed, but this draft rule, if adopted, would require investment firms to disclose how they define the criteria for including companies in their ESG (Environmental, Social, Governance) proposals. 
The rules would "enhance transparency around how a fund’s investment methods match its name. Specifically, it would require a fund to disclose how it defines the terms in its name and selects investments in line with its name," writes Gensler in announcing the rule.
ISO 30414 Human Capital standards provide an excellent means of evaluating an organization's human capital practices in a more standardized, comparable format than is currently available.
Gensler writes, "The expanded requirement would apply to funds whose names suggest that they invest in issuers or investments with particular characteristics. This would include, for example, Environmental, Social, and Governance-related (ESG) fund names.”
Second, the proposal would require funds that 'drift' below the 80% requirement to come back into compliance in a timely manner — in most cases, within 30 days."
The rule will go through a 60-day commenting period.

Human Resources Certification Institute (HRCI) Creates Center for ISO Certifications

One of the leading human resources credentialing and learning organizations has launched the Human Resource Standard Institute to provide organizational certifications built on International Organization for Standardization (ISO) standards for human resource management (HRM).
According to the announcement, “HRSI certifications enable business and HR leaders to ensure processes and practices support organizational goals and align with global standards. The first available
certification focuses on diversity and inclusion in line with ISO standard 30415.” 
HRCI CEO Dr. Amy Dufrane explains in a statement, “Through our work with HR professionals, HRCI
has been setting the industry standard for rigor, excellence, and expertise for more than
45 years. With HRSI, we’re extending that same attention to learning, development,
certification and continuous improvement to forward-thinking organizations.”
HRCI says the program recognizes that considering “an increased need to attract, engage and retain talent, HRSI organizational certifications work to align HR activities around business goals using consensus-based, international human resource standards to increase brand and market recognition. Through the association with ISO guidance, these organizational certifications also allow for comparisons of practices on objective bases with other organizations across national boundaries and industry sectors.” HRCI holds the Secretariat for the ISO 260 working group that creates and administers human capital standards.
It continues: “As job seekers, customers, investors, and governmental agencies increasingly demand
that business relationships are informed by DEI principles, HRSI sought to create a certification that ensures DEI processes and practices match the organization’s stated objectives. The resulting HRSI DEI Organizational Certification leverages ISO guidance on DEI for organizations, developed by global HR professionals and approved by 32 member countries responsible for the development of human resources management standards. Certified organizations receive the HRSI badge and seal of excellence for display.”
Dr. Denise Caleb, President of HRSI, comments, “In launching HRSI and giving organizations the opportunity to certify for the first time, DEI was our number one choice. Already a top priority for business leaders, securing the HRSI DEI organizational certification means affirming that your workplace culture is based on integrity, respect, inclusivity, valuing people, fairness, equity, and equality. There is simply no other certification like this one.”
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Master the “S” of Environmental, Social, Governance (ESG), A.k.a. Stakeholder Capitalism
The Enterprise Engagement Alliance at is the world’s first and only organization that focuses on outreach, certification and training, and advisory services to help organizations achieve their goals by fostering the proactive involvement of all stakeholders. This includes customers, employees, distribution and supply chain partners, and communities, or anyone connected to an organization’s success.
Training and Thought Leadership 
  • Founded in 2008, the Enterprise Engagement Alliance provides outreach, learning and certification in Enterprise Engagement, an implementation process for the “S” or Social of Stakeholder Capitalism and Human Capital Management and measurement of engagement across the organization.
  • The Enterprise Engagement Alliance provides a training and certification program for business leaders, practitioners, and solution providers, as well as executive briefings and human capital gap analyses for senior leaders.
  • The EEA produces an education program for CFOs for the CFO.University training program on Human Capital Management.
  • Join the EEA to become a leader in the implementation of the “S” of ESG and Stakeholder Capitalism. 
EE for CEOsEngagement Digital Media and Marketplaces
Video Learning
The EEA Human Capital Management and ROI of Engagement YouTube channel features a growing library of 30- to 60-minute panel discussions with leading experts in all areas of engagement and total rewards.
EE RoadmapBooks
Enterprise Engagement Advisory Services 
The Engagement Agency helps:
  • Organizations of all types develop strategic Stakeholder Capitalism and Enterprise Engagement processes and human capital management and reporting strategies; conduct human capital gap analyses; design and implement strategic human capital management and reporting plans that address DEI (Diversity, Equity, and Inclusion), and assist with managed outsourcing of engagement products and services.
  • Human resources, sales and marketing solution providers profit from the emerging discipline of human capital management and ROI of engagement through training and marketing services.
  • Investors make sense of human capital reporting by public companies.
  • Buyers and sellers of companies in the engagement space or business owners or buyers who seek to account for human capital in their mergers and acquistions
For more information: Contact Bruce Bolger at or call 914-591-7600, ext. 230.
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