A veteran general counsel I spoke to recently said that in the old days, environmental, social, and corporate governance (ESG) issues were the "warm and fuzzy" stuff a company did in the community that generated goodwill.

Oh, how times have changed.

The Securities and Exchange Commission (SEC) gave companies a jolt this week by proposing two rule changes that would prevent misleading or deceptive ESG claims by mutual funds and other investment vehicles.

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Greg Andrews

Greg Andrews is the editor overseeing ALM Media's coverage of corporate legal departments. He previously was editor of Indianapolis Business Journal and business editor of The Indianapolis Star. Contact him at [email protected]. On Twitter: @Greg_Andr