order

Texas Federal Court Awarded $4.6 Million in Attorney’s Fees to Plaintiff Who Challenged Influence of ESG Interests in American Airlines Employee Retirement Plans

Class action alleging that American Airlines and related defendants breached their fiduciary duties under ERISA by investing employees' retirement savings with managers and in funds that use ESG strategies.

Spence v. American Airlines, Inc.

Litigation

Sabin

Sabin Litigation

Texas Federal Court Certified Class for Action Against American Airlines for Retirement Plan Investments in Funds that Pursued ESG Objectives

memorandum opinion and order

Texas Federal Court Denied Motion to Dismiss American Airlines Employee Class Action Alleging ESG-Related Breaches of ERISA Duties

complaint

Spence v. American Airlines, Inc. - complaint

Texas Federal Court Denied American Airlines Summary Judgment Motion in Class Action Alleging Breaches of Fiduciary Duties Related to ESG Investments

findings of fact and conclusions of law

Texas Federal Court Found that American Airlines Breached ERISA Duty of Loyalty Due to Influence of ESG Interests

judgment

Texas Federal Court Denied Monetary Damages for American Airlines’ ESG-Related Breach of Fiduciary Duty to Retirement Plan Participant but Issued Injunction

opposition

Spence v. American Airlines, Inc. - opposition

Filing Year For Action

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives