President Donald Trump's second administration began on 20 January 2025 with a wide array of executive orders addressing government structure, immigration, energy, and other social and cultural issues. Many of the initial orders overturned executive orders from the prior administration, including those related to climate change, such as withdrawing the US's participation from the Paris Climate Agreement and ending a ban on new offshore drilling. Other initial executive orders have focused on topics including domestic energy production and eliminating the use of federal funds toward diversity, equity, and inclusion (DEI) programs.
Based on executive orders signed as of 7 March, approx. 70% have either an environmental or social impact (Fig. 1), although about three-fourths do not have any immediate investment implications, in our view, although there are some additional concerns. Nonetheless, we think the continuous headlines on these topics are likely to lead to short-term volatility for some strategies tied to sustainable investing themes. We also expect greater challenges in transparency, as US companies might pull back from publicly reporting progress on sustainability initiatives, including DEI programs. Executive orders are also focusing on reducing the size of the federal workforce and advancing deregulation. Where standards and regulations at the national level are being reconsidered, companies can differentiate themselves through advanced policies, maintaining or improving their governance approach.
We continue to believe in the economic case for investments in renewable energy, energy efficiency, and diversity and will monitor further impacts to sustainable investing. We see near-term volatility as an opportunity for investors to continue allocating toward investment strategies that align with their longer-term investment and sustainability objectives.
Since our last update
Recent executive orders have relaunched tariffs of at least 25% on goods from Mexico and Canada and increased tariffs on Chinese goods to 20%. Orders have guided the Attorney General and Equal Employment Opportunity Commission to investigate leading law firms for discriminatory practices.
Lawsuits filed against executive orders have had mixed results with some resulting in temporary restraining orders and preliminary injunctions, some rejections of such requests, and some establishing a timeline for more decisions at a later date. Please see more details inside.
This tracker will be regularly updated and currently contains executive orders signed as of 7 March 2025.
Date signed | Date signed | Number | Number | Theme | Theme | Title | Title | Description | Description | Additional notes and updates | Additional notes and updates | Environmental impact overview | Environmental impact overview | Social impact overview | Social impact overview | Implications for investors focused on sustainability | Implications for investors focused on sustainability |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Date signed | 3/7/2025 | Number | Not yet identified | Theme | Government | Title | Description | Proposes revisions to the Public Service Loan Forgiveness program to exclude organizations supporting healthcare for transgender youth and certain support for undocumented immigrants, and other non-profits/organizations engaging in "illegal" discrimination or supporting trespassing, disorderly conduct, and obstruction of highways. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | May discourage some people from working in these organizations which can provide social services | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 3/7/2025 | Number | Not yet identified | Theme | Socio-cultural | Title | Establishing The White House Task Force on the FIFA World Cup 2026 | Description | Establishes a taskforce to prepare for the FIFA World Cup 2026 in which the President and Vice President are Chair and Vice Chair, respectively. An executive director will be appointed by the Chair. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term |
Date signed | 3/6/2025 | Number | Not yet identified | Theme | Government/Economy | Title | Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile | Description | Develops a Strategic Bitcoin Reserve and a US Digital Asset Stockpile to be managed by the Treasury Department. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | May lead to increased demand for stablecoins |
Date signed | 3/6/2025 | Number | Not yet identified | Theme | Government | Title | Description | Suspends active security clearance to individuals at private law firm Perkins Coie and seeks to terminate any federal funding or services to Perkins Coie based on claims or race-based and sex-based discrimination in the firm's internal processes. Guides the AG and Chair of the Equal Employment Opportunity Commission to review if hiring, promotion and other practices by industry leading law firms are based on discrimination. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Likely to further discourage private companies from adopting policies focused on diversity and inclusion, including approaches not explicitly named as such. | Implications for investors focused on sustainability | Potential incremental risk to investors focused on diversity and equality, as challenges introduced for US corporate diversity reporting and transparency. | |
Date signed | 3/4/2025 | Number | 14229 | Theme | Socio-cultural | Title | Description | Renames the Anahuac National Wildlife Refuge to the Jocelyn Nungaray Wildlife Refuge in honor of Jocelyn Nungaray who was allegedly killed by two undocumented persons. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 3/3/2025 | Number | 14228 | Theme | International Affairs | Title | Description | Increased previous tariffs on China as detailed in EO 14195 are increased to +20% from +10%. | Additional notes and updates | N/A | Environmental impact overview | It is possible there may be environmental concerns which arise due to additional tariffs, including increasing the cost of items related to renewable energy development and infrastructure | Social impact overview | Tariffs are likely to increase prices of goods in the US, with the highest impact on lower income families and small businesses. Reducing the entrance of drugs into the country also would also have positive social outcomes. | Implications for investors focused on sustainability | Potential price increases to consumer goods and industry supply chains | |
Date signed | 3/1/2025 | Number | 14223 | Theme | International Affairs | Title | Description | Instructs Secretary of Commerce to assess impacts of imported timber and US capacity to meet national demand. | Additional notes and updates | N/A | Environmental impact overview | Likely to encourage more deforestation domestically and may lead to tariffs on foreign imports | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short term; outcomes of assessment may lead to some volatility in construction and manufacturing industry supply chains in the medium to long term | |
Date signed | 3/1/2025 | Number | 14225 | Theme | Economy | Title | Description | Seeks to develop guidance to increase timber production in the states, including calling for agencies to reduce delays related to permitting and consultations with the Endangered Species Committee to identify related obstacles towards domestic timber production, and engagement with Native American groups under the Tribal Forest Protection Act. | Additional notes and updates | N/A | Environmental impact overview | Would encourage deforestation domestically and approach may lead to bypassing permitting or regulation that protects the environment and biodiversity | Social impact overview | Could lead to increased pressure on Native American groups to use their forest land for timber | Implications for investors focused on sustainability | Could be positive for timber, construction, and manufacturing companies with a large exposure to domestic raw materials | |
Date signed | 3/1/2025 | Number | 14224 | Theme | Socio-cultural | Title | Designating English as the Official Language of the United States | Description | Designates English as the only official language of the United States and repeals an earlier executive order to support accessibility services to people with limited English language capabilities. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Limits access to accessibility and translation services for people with limited English capabilities which may limit ability to access social or other services | Implications for investors focused on sustainability | Limited investment implications in the short or long term |
Date signed | 3/2/2025 | Number | 14226 | Theme | International Affairs | Title | Amendment to Duties To Address the Flow of Illicit Drugs Across Our Northern Border | Description | De minimis (below $800 in import value) exclusions from Canada permitted; allows tariffs from previous executive orders to take place | Additional notes and updates | N/A | Environmental impact overview | If tariffs limit renewable energy development or cause the US to source products from more distant locations, this could be a negative for emissions. However, there may be lower emissions overall if this leads to more goods produced in the U.S. | Social impact overview | Tariffs are likely to increase prices of goods in the US, with the highest impact on lower-income families and small businesses. Reducing the entrance of drugs into the country also has positive social outcomes. | Implications for investors focused on sustainability | Potential price increases to consumer goods and industry supply chains; See latest CIO research on the impact of tariffs |
Date signed | 3/2/2025 | Number | 14227 | Theme | International Affairs | Title | Amendment to Duties To Address the Situation at Our Southern Border | Description | De minimis (below $800 in import value) exclusions from Mexico permitted; allows tariffs from previous executive orders to take place | Additional notes and updates | N/A | Environmental impact overview | It is possible there may be environmental concerns which arise due to tariffs | Social impact overview | Tariffs are likely to increase prices of goods in the US, with the highest impact on lower-income families and small businesses. Reducing the entrance of drugs into the country also has positive social outcomes. | Implications for investors focused on sustainability | Potential price increases to consumer goods and industry supply chains; See latest CIO research on the impact of tariffs |
Date signed | 2/26/2025 | Number | 14222 | Theme | Government | Title | Implementing the President's "Department of Government Efficiency" Cost Efficiency Initiative | Description | Asks agencies to record all payments issued by the agency and provide a justification which will be reviewed and advised upon by employees from the "Department of Government Efficiency." | Additional notes and updates | N/A | Environmental impact overview | Cost-cutting measures may reduce capacity to enforce or develop for environmental protections or regulations | Social impact overview | Cost-cutting measures may reduce capacity to enforce or develop for social protections or regulations | Implications for investors focused on sustainability | Limited investment implications in the short or long term |
Date signed | 2/25/2025 | Number | 14221 | Theme | Socio-cultural | Title | Description | Seeks to enforce healthcare price transparency regulation from an executive order from the first Trump administration. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | May increase price transparency at hospitals and in health plans | Implications for investors focused on sustainability | Could have positive implications for healthcare providers in the sustainable universe with a view towards affordability | |
Date signed | 2/25/2025 | Number | 14220 | Theme | International Affairs | Title | Addressing the Threat to National Security From Imports of Copper | Description | Instructs Secretary of Commerce to assess impacts of imported copper and US capacity to meet national demand. | Additional notes and updates | N/A | Environmental impact overview | Assessment of copper supply could encourage domestic mining and production | Social impact overview | None | Implications for investors focused on sustainability | Increased domestic production of copper may simplify technology supply chains with manufacturing capabilities in the US |
Date signed | 2/19/2025 | Number | 14219 | Theme | Government | Title | Description | Calls for Agency heads to identify unconstitutional, unlawful, or costly regulations or those that harm national interest for the Office of Information and Regulatory Affairs (OIRA) within the Office of Management and Budget to be eliminated; Notes all agency heads should consult with DOGE Team Leads or OIRA on potential new regulations. | Additional notes and updates | Lawsuits have been filed alleging DOGE has violated Administrative Procedures Act and other legal clauses and acts; seeks injunction | Environmental impact overview | May include environmental regulations | Social impact overview | May include regulations related to social issues | Implications for investors focused on sustainability | Uncertain investment implications in the short term; over the long term, there are mixed implications. Fewer regulations are likely to reduce costs but this may have negative implications on emissions reductions or safety. Can provide an opportunity for companies to differentiate with more advanced policies | |
Date signed | 2/19/2025 | Number | 14218 | Theme | Immigration | Title | Description | Calls for agencies to ensure federally funded programs do not provide cash or non-cash public benefit to undocumented persons and federal funds to states and localities do not subsidize or promote illegal immigration or sanctuary policies. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | May reduce funding to states and localities which protect undocumented persons through sanctuary policies or may lessen support for these policies | Implications for investors focused on sustainability | Limited investment implications in the short term, but could have longer-term negative implications on munis from states and localities impacted by this EO | |
Date signed | 2/19/2025 | Number | 14217 | Theme | Government | Title | Description | Reduces the following government entities to as minimal a presence as required by law: | Additional notes and updates | On Mar 6, judge issues stay saying employee cannot be removed from office and Marocco can not be appointed to the Board. Lawsuits allege appointment of Pete Marocco as acting Chair of Board of USADF is unlawful; USADF employee suing for unlawful termination | Environmental impact overview | Funding for the US African Development Foundation supported off-grid and renewable energy use in various African countries | Social impact overview | Some of the agencies reduced support economic development and peace initiatives or address consumer protections and health initiatives or inequities | Implications for investors focused on sustainability | Limited investment implications in the short term | |
Date signed | 2/18/2025 | Number | 14216 | Theme | Socio-cultural | Title | Description | Calls for the Assistant to the President for Domestic Policy to submit a list of policy recommendations to protect IVF access and reduce out-of-pocket and health plan costs for IVF treatment. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Reduced cost of IVF treatments could lead to more use, having positive social impact for all including LGBTQ+ families. | Implications for investors focused on sustainability | Limited investment implications in the short or long term, however improved regulation and access to IVF might benefit investors focused on healthcare and fertility | |
Date signed | 2/18/2025 | Number | 14215 | Theme | Government | Title | Description | Allows for presidential supervision of all executive departments and agencies, including independent agencies. Establishes executive branch oversight on all independent government agencies, requiring review of all legal interpretations to be in alignment with President and Attorney General. This will be reviewed by the Director of the Office of Management and Budget (OMB). | Additional notes and updates | Three national committees of the Democratic Party allege this executive order violates the Federal Election Campaign Act (FECA). They seek judgment the FECA is constitutional and the EO is unlawful as applied to the FEC; Seeking injunctive relief; Another lawsuit alleges administration is violating Privacy Act by unlawfully disseminating protected information; Seeking judgement and monetary damages. | Environmental impact overview | Likely includes managing regulations from the Environmental Protection Agency and other environmental and energy-related agencies | Social impact overview | Likely includes managing regulations related to social issues | Implications for investors focused on sustainability | Uncertain implications in the short term; but over the longer term this could have mixed implications to regulations as well as emissions reductions or safety. Can provide an opportunity for companies to differentiate with more advanced policies | |
Date signed | 2/14/2025 | Number | 14214 | Theme | Socio-cultural | Title | Keeping Education Accessible and Ending COVID-19 Vaccine Mandates in Schools | Description | Notes federal funds should not be indirectly or directly used to support educational programs which require students to have received a COVID-19 vaccine to attend in-person. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | May increase access to education for previously excluded students and might result in increased instances of COVID-19 | Implications for investors focused on sustainability | Limited implications in the short or long term |
Date signed | 2/14/2025 | Number | 14213 | Theme | Energy | Title | Description | Develops a council which will provide a National Energy Dominance Strategy to enhance private sector investments while reducing regulation and to support energy production in the United States. | Additional notes and updates | N/A | Environmental impact overview | Supports investments and deregulation related to the production of energy sources including natural gas, fossil fuels, coal, and hydropower, uranium and other fuels | Social impact overview | None | Implications for investors focused on sustainability | Creates volatility tied to environmental sustainability topics, but we see limited near-term risks. See “What do Trump’s executive orders mean for climate?” (24 Jan 2025) for more. | |
Date signed | 2/13/2025 | Number | 14212 | Theme | Socio-cultural | Title | Establishing the President's Make America Healthy Again Commission | Description | Develops a commission to support health research targeting chronic diseases, expand flexibility of health insurance coverage to support lifestyle changes and disease prevention, and work with farmers to make domestic food production healthy, abundant and affordable, with a particular interest towards addressing chronic diseases in children, such as autism and ADHD. | Additional notes and updates | N/A | Environmental impact overview | Supporting farmers to make domestic food production healthy, abundant, and affordable could lead to changes in the food system which could have both positive and negative environmental impacts | Social impact overview | Seeks to address chronic lifestyle diseases, including those in children; associated funding may shift to chronic diseases from infectious diseases | Implications for investors focused on sustainability | Could have positive implications for healthcare and food and agriculture providers within the sustainability universe |
Date signed | 2/12/2025 | Number | 14211 | Theme | International Affairs | Title | Description | Ensures all foreign policy professionals must implement the policies of the President. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term at the portfolio level | |
Date signed | 2/11/2025 | Number | 14210 | Theme | Government | Title | Implementing the President's "Department of Government Efficiency" Workforce Optimization Initiative | Description | Requests a plan from the Director of the Office of Management and Budget to reduce the size of the federal workforce by requiring each agency to hire no more than one employee for every four that depart and other actions to reduce the workforce. | Additional notes and updates | Lawsuits have been filed saying government layoffs in the manner they have been conducted are illegal, especially those related to probationary workers. Judge ruled layoffs of probationary workers is "unlawful" and should be "rescinded." | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short term |
Date signed | 2/10/2025 | Number | 14209 | Theme | International Affairs | Title | Pausing Foreign Corrupt Practices Act Enforcement To Further American Economic and National Security | Description | Guides the Attorney General to stop all new investigations or enforcement actions related to the Foreign Corrupt Practices Act and review in detail all existing investigations or enforcement actions over the next six months. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Potential incremental risk to investors considering governance. Weakening of the US enforcement framework under FCPA might lower the overall standard for US-domiciled companies, and creates space for companies with strong policies to differentiate themselves. |
Date signed | 2/10/2025 | Number | 14208 | Theme | Government | Title | Description | Demands all executive departments and agencies eliminate the purchase of paper straws and ensure they are no longer provided; within 45 days, the order calls for the Assistant to the President for Domestic Policy to issue a National Strategy to end the use of paper straws. | Additional notes and updates | N/A | Environmental impact overview | Increases use of plastic straws | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short term or long term; may begin a broader return to certain single-use plastics | |
Date signed | 2/10/2025 | Number | 14207 | Theme | Government | Title | Description | Eliminates the Federal Executive Institute, created by Lyndon B. Johnson in 1968, which was designed to provide leadership training to government employees. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short term or long term | |
Date signed | 2/7/2025 | Number | 14206 | Theme | Government | Title | Description | Demands the Attorney General review actions of the executive branch which may infringe upon the Second Amendments and present solutions to address infringements | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short term; in the long term, potential incremental risk for investors if certain companies increase exposure to firearm revenue | |
Date signed | 2/7/2025 | Number | 14205 | Theme | Government/Socio-cultural | Title | Description | Changes the name of the office from "White House Office of Faith-Based and Community Initiatives" to "White House Faith Office," and seeks to empower faith-based entities while consulting experts from various faith communities on efforts to protect women and children, defending religious liberty, combatting anti-Semitic, anti-Christian, and additional forms of anti-religious bias, as well as other themes. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Aims to ensure all faiths are equally engaged and represented in efforts led by the White House | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 2/7/2025 | Number | 14204 | Theme | International Affairs | Title | Addressing Egregious Actions of the Republic of South Africa | Description | Withdraws aid or assistance to South Africa and promotes the resettlement of Afrikaner refugees based on South African government policies related to property confiscation, accusing Israel of genocide in the International Court of Justice, and restarting relations with Iran. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term |
Date signed | 2/6/2025 | Number | 14203 | Theme | International Affairs | Title | Description | Imposes sanctions on the International Criminal Court and expects US allies to oppose any ICC actions against the United States, Israel, or any other ally of the United States that has not consented to ICC jurisdiction. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 2/6/2025 | Number | 14202 | Theme | Socio-cultural | Title | Description | Establishes a task force to "eradicate anti-Christian bias" which will review unlawful anti-Christian policies and practices by federal agencies and provide recommendations within 120 days | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Seeks to preserve religious freedom of Christians in the U.S. | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 2/5/2025 | Number | 14201 | Theme | Socio-cultural | Title | Description | Bars federal funding from educational programs that allow transgender women and girls to participate in female sports. Directs the attorney general to “prioritize Title IX enforcement actions” against educational institutions that allow for such participation or allow transgender women in changing areas. Withdraws the US from international sports programs with transgender women’s participation, and directs the Secretaries of State and Homeland Security to work to prohibit transgender female athletes from entering the country. Instructs the Secretary of State to “use all appropriate and available measures” to ensure the International Olympic Committee adjusts its standards on participation in women’s sports. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Limits the inclusivity of transgender athletes domestically and globally | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 2/5/2025 | Number | 14200 | Theme | International Affairs | Title | Amendment to Duties Addressing the Synthetic Opioid Supply Chain in the People's Republic of China | Description | Amends EO 14195 to allow for duty-free de minimis treatment for otherwise eligible covered articles from the People's Republic of China, but will not be available once there is an adequate system to collect tariff revenue applicable from EO 14195. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Could lead to temporary lower price increases on applicable goods until mechanism to collect suggested tariffs |
Date signed | 2/4/2025 | Number | 14199 | Theme | International Affairs | Title | Description | Directs the Secretary of State to conduct a review in 180 days of all international intergovernmental organizations of which the US is a member to determine further participation. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | The named organizations of the United Nations provide humanitarian support, cultural preservation, and scientific research, which support communities in need and provide protection to cultural sites. The US contributes meaningfully to other international intergovernmental organizations providing vital funding and support to various social causes around the world. | Implications for investors focused on sustainability | Limited investment implications in the short term. If the US fully withdraws from international organizations such as the World Bank, we see slight negatives to multilateral development bank (MDB) bonds ratings, however, we think this is less likely and believe the strong standalone credit profile will limit potential downgrades. | |
Date signed | 2/3/2025 | Number | 14198 | Theme | International Affairs | Title | Description | Pauses tariffs on Mexico until March 4. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | The pause on tariffs is one factor that may contribute to prices not rising higher. | Implications for investors focused on sustainability | Reverses potential price increases to consumer goods and industry | |
Date signed | 2/3/2025 | Number | 14197 | Theme | International Affairs | Title | Description | Pauses tariffs on Canada until March 4. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | The pause on tariffs is one factor that may contribute to prices not rising higher. | Implications for investors focused on sustainability | Reverses potential price increases to consumer goods and industry | |
Date signed | 2/3/2025 | Number | 14196 | Theme | Economy | Title | A Plan for Establishing A United States Sovereign Wealth Fund | Description | Calls for a plan to create an American sovereign wealth fund that aims to "promote fiscal sustainability, lessen the burden of taxes on American families and small businesses, establish economic security for future generations, and promote United States economic and strategic leadership internationally." | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | The stated goal of economic security has positive social benefits | Implications for investors focused on sustainability | Aligns with the following investment themes - More to go in stocks; Seize the AI opportunity; Invest in power and resources |
Date signed | 2/1/2025 | Number | 14195 | Theme | International Affairs | Title | Imposing Duties to Address the Synthetic Opioid Supply Chain in the People's Republic of China | Description | Places a 10% tariff on goods imported from China due to fentanyl trafficking. | Additional notes and updates | This order was counteracted by a later order pausing the tariffs. | Environmental impact overview | It is possible there may be environmental concerns which arise due to additional tariffs, including increasing the cost of items related to renewable energy development and infrastructure | Social impact overview | Tariffs are likely to increase prices of goods in the US, with the highest impact on lower-income families and small businesses. Reducing the entrance of drugs into the country also would also have positive social outcomes. | Implications for investors focused on sustainability | Potential price increases to consumer goods and industry supply chains |
Date signed | 2/1/2025 | Number | 14194 | Theme | International Affairs | Title | Imposing Duties to Address the Situation at Our Southern Border | Description | Places 25% tariffs on goods imported from Mexico, with the rationale of limiting the flow of undocumented migrants and drug trafficking. | Additional notes and updates | N/A | Environmental impact overview | It is possible there may be environmental concerns which arise due to tariffs | Social impact overview | Tariffs are likely to increase prices of goods in the US, with the highest impact on lower-income families and small businesses. Reducing the entrance of drugs into the country also has positive social outcomes. | Implications for investors focused on sustainability | Potential price increases to consumer goods and industry supply chains |
Date signed | 2/1/2025 | Number | 14193 | Theme | International Affairs | Title | Imposing Duties to Address the Flow of Illicit Drugs Across Our Northern Border | Description | Places 25% tariffs on goods imported from Canada, with a lower 10% tariff on energy imports, with the rationale of stopping the flow of fentanyl, as well as human trafficking and undocumented immigration. | Additional notes and updates | This order was counteracted by a later order pausing the tariffs. | Environmental impact overview | If tariffs limit renewable energy development or cause the US to source products from more distant locations, this could be a negative for emissions. However, there may be lower emissions overall if this leads to more goods produced in the U.S. | Social impact overview | Tariffs are likely to increase prices of goods in the US, with the highest impact on lower-income families and small businesses. Reducing the entrance of drugs into the country also has positive social outcomes. | Implications for investors focused on sustainability | Potential price increases to consumer goods and industry supply chains |
Date signed | 1/31/2025 | Number | 14192 | Theme | Government | Title | Description | Requires federal agencies to identify 10 potential regulations to be eliminated for each new regulation proposed. Calls for the cost of all new regulations to be at or below zero, for the 2025 fiscal year. | Additional notes and updates | N/A | Environmental impact overview | Regulations scheduled to be overturned may be related to environmental concerns | Social impact overview | Regulations scheduled to be overturned may be related to social concerns | Implications for investors focused on sustainability | Uncertain investment implications in the short term; over the long term, there are mixed implications. Fewer regulations are likely to reduce costs but this may have negative implications on emissions reductions or safety. Can provide an opportunity for companies to differentiate with more advanced policies | |
Date signed | 1/29/2025 | Number | 14191 | Theme | Socio-cultural | Title | Description | Directs the Department of Education to prioritize school choice programs through its discretionary grants, in addition to issuing guidance to states about federal allocations to districts and schools. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Encourages states to explore choice programs which include private and faith-based schools. These schools are not required to accept all students and are not mandated to have special education programs. Choice grants may not cover full costs of attending a non-public school, while reducing financial capacity and quality of public schools, leading to more challenging educational outcomes. Additional funding to families may support the cost of homeschooling or other non-traditional educational options. | Implications for investors focused on sustainability | Opportunities for edtech to supplement and provide learning outside of the traditional school system | |
Date signed | 1/29/2025 | Number | 14190 | Theme | Socio-cultural | Title | Description | Instructs Cabinet heads to develop a strategy within 90 days to eliminate federal funds from being used for supporting gender ideology (deviation from biological sex as a determinant of gender) and discriminatory equity ideology (including acknowledging historical discrimination and teaching concepts such as white privilege and unconscious bias). Re-establishes the 1776 Commission within the Education Department, focused on “patriotic education.” | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Prohibits schools receiving federal funding from acknowledging a child's gender identity that does not align with the gender aligned with their sex at birth and teaching history acknowledging racial, gender, or other forms of discrimination. | Implications for investors focused on sustainability | Uncertain investment implications in the short term | |
Date signed | 1/29/2025 | Number | 14189 | Theme | Socio-cultural | Title | Description | The order creates a White House Task Force on Celebrating America's 250th Birthday, ahead of 4 July 2026. The responsibility of this task force lies within the Department of Defense. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/29/2025 | Number | 14188 | Theme | Socio-cultural | Title | Description | Directs the government to use "all available and appropriate legal tools" to push back against antisemitic "harassment and violence," calls for a report from every agency within 60 days on all authorities that can be used to fight antisemitism, and orders a list of claims of antisemitism at schools since the 7 Oct 2023 Hamas attack in Israel. Asks the State, Homeland Security and Education departments to help issue recommendations for "familiarizing institutions" with the rules that foreign students who express support for terrorist activity can be deported. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Links anti-semitism to anti-Israel content, equating Jewish identity with Israeli identity. | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/28/2025 | Number | 14187 | Theme | Socio-cultural | Title | Description | States federal funds should not be used for gender-affirming medical care for minors. Instructs federal agencies to ensure hospitals and medical schools receiving federal research and education grants stop gender-affirming care. Directs agencies to “rescind or amend” policies which rely on guidance from the World Professional Association for Transgender Health. Bars federal employee health insurance plans from covering gender-affirming care for minors, including surgeries and hormone treatments. | Additional notes and updates | Lawsuit suggesting the EO consists of unconstitutional presidential action, discrimination on the basis of sex and disability; also suggests it violates the Fifth Amendment's equal protection and substantive due process guarantees. Plaintiffs have filed for preliminary injunction against enforcement of EO | Environmental impact overview | None | Social impact overview | Limits access to gender-affirming care for trans youth | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/27/2025 | Number | 14186 | Theme | Defense and National Security | Title | Description | Calls for an “Iron Dome for America.” This order gives the defense secretary 60 days to submit a plan for a “next-generation missile defense shield.” The shield is expected to include capabilities in space to detect, track and intercept missiles and stop a missile before it is launched. | Additional notes and updates | This Iron Dome is distinct from Israel's Iron Dome which is a short-range missile defense system. | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Uncertain investment implications in the short or long term | |
Date signed | 1/27/2025 | Number | 14185 | Theme | Defense and National Security | Title | Description | Instructs the Secretaries of Defense and Homeland Security to abolish all diversity, equity and inclusion offices in their departments and end all DEI initiatives and programs. The order also bars any educational institutions that the Defense Department and armed forces oversee from “promoting, advancing, or otherwise inculcating the following un-American, divisive, discriminatory, radical, extremist, and irrational theories.” | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Eliminates diversity, equity, and inclusion programs | Implications for investors focused on sustainability | Uncertain investment implications in the short or long term | |
Date signed | 1/27/2025 | Number | 14184 | Theme | Defense and National Security | Title | Reinstating Service Members Discharged Under the Military's COVID-19 Vaccination Mandate | Description | Allows service members discharged from the military for not receiving the coronavirus vaccine to be reinstated and “revert[ed] to their former rank and receive full back pay, benefits, bonus payments, or compensation." Also allows those who left the military voluntarily rather than getting vaccinated to be reinstated “with no impact on their service status, rank, or pay.” | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term |
Date signed | 1/27/2025 | Number | 14183 | Theme | Defense and National Security | Title | Description | Bars transgender people from serving in the military by rescinding an executive order from the previous administration that allowed transgender people to enlist and allowed enlisted transgender service members to receive coverage for transition-related medical care. Prohibits the use of pronouns in the Defense Department and bars transgender women from female facilities for sleeping, changing or bathing, and transgender men from such male facilities. | Additional notes and updates | Lawsuit argues categorical exclusion of transgender people from military service violates equal protection under the Fifth Amendment's Due Process Clause because policy is arbitrary and lacks a legitimate government interest. | Environmental impact overview | None | Social impact overview | Limits inclusion of transgender people in the military | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/24/2025 | Number | 14182 | Theme | Socio-cultural | Title | Description | Revokes two of the previous administration's executive orders on abortion access, which sought to ensure safety at clinics and pharmacies, established an Interagency Task Force on Reproductive Healthcare Access, assisted states with legal protections for out-of-state patients, explored access to services through Medicaid, and called for improvements on research and data collection on reproductive health access. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Limits access to reproductive healthcare | Implications for investors focused on sustainability | Limited investment implications in the short term; over the long term, additional research may have positive implications for the healthcare sector | |
Date signed | 1/24/2025 | Number | 14181 | Theme | Government | Title | Description | Seeks to provide more water to California to combat wildfires by circumventing federal and state laws dealing with California's water system. Instructs Cabinet heads to "override existing activities" limiting water deliveries and take measures including direct assistance, loans, and other means, to repair roads and bridges impacted by Hurricanes in North Carolina. | Additional notes and updates | N/A | Environmental impact overview | Water released as a result of this executive order stopped in the Central Valley and did not reach Los Angeles. This action likely has a negative impact on agricultural land in the Central Valley and nearby areas in the short term and also in the long term as reserved water is no longer available for use. | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications broadly; impacts likely more closely related to California-based industries and connected supply chains | |
Date signed | 1/24/2025 | Number | 14180 | Theme | Government | Title | Description | Establishes the Federal Emergency Management Agency Review Council to recommend changes to FEMA, led by the Secretaries of Defense and Homeland Security. The council must produce a report within six months detailing FEMA's disaster response during the prior administration and evaluate whether FEMA can serve as a supportive agency to states, rather than lead agency on disaster response. | Additional notes and updates | N/A | Environmental impact overview | Reconsiders the position of FEMA which could lead to less funding. The agency helps communities prepare for disasters through research and mapping tools In addition to providing disaster response. | Social impact overview | Reduces federal response to natural disasters and puts more responsibility on states which have varying levels of capacity to provide support following disasters | Implications for investors focused on sustainability | Uncertain investment implications in the short term; may have more negative regional implications longer term if natural disaster impacts exceed state's capacity and FEMA support is limited | |
Date signed | 1/23/2025 | Number | 14179 | Theme | Technology | Title | Removing Barriers to American Leadership in Artificial Intelligence | Description | Directs administration officials to develop an “action plan” over the course of six months on protecting US dominance in artificial intelligence. Dictates officials to suspend activities relating to the former administration’s executive order on artificial intelligence, which Trump revoked. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Aligns with the following investment themes - Seize the AI opportunity, Invest in power and resources |
Date signed | 1/23/2025 | Number | 14178 | Theme | Technology | Title | Strengthening American Leadership in Digital Financial Technology | Description | Supports the growth and use of digital currency and blockchain technology. Establishes a “digital asset markets” working group to evaluate regulations and recommend changes and to assess the possible creation of a “national digital asset stockpile.” Prohibits establishing a U.S. digital currency and revokes an executive order from the prior administration focused on related research. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | May lead to increased demand for stablecoins |
Date signed | 1/23/2025 | Number | 14177 | Theme | Government | Title | Description | Creates a Presidential Council on Advisors on Science and Industry led by the president's Assistant for Science and Technology and also the Special Advisor for AI and Crypto, and allows the leadership to request security clearance and classified access for members of the committee, subcommittee or "ad hoc groups." | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Pertains to the Energy Transitions LTI and the following investment themes - Seize the AI opportunity, Invest in power and resources | |
Date signed | 1/23/2025 | Number | 14176 | Theme | Government | Title | Description | Calls for the release of all records related to assassinations of former President John F. Kennedy, former Sen. Robert F. Kennedy, and Dr. Martin Luther King Jr., following official review and the development of plans for release. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/22/2025 | Number | 14175 | Theme | Defense and National Security | Title | Designation of Ansar Allah as a Foreign Terrorist Organization | Description | Designates Ansar Allah, also known as the Houthis, as a Foreign Terrorist Organization ("FTO"). This designation has higher restrictions and criminal penalties for financial and other ties to the group than the Specially Designated Global Terrorist ("SDGT") classification the group received during the prior administration. In the first Trump administration, the group was also designated as a FTO. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term |
Date signed | 1/21/2025 | Number | 14174 | Theme | Government | Title | Description | Revokes the previous administration's executive orders which required federal employees to receive the coronavirus vaccine and federal contractors to “provide adequate COVID-19 safeguards.” | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Increases prevalence of non-vaccinated individuals working in federal government which could lead to adverse health outcomes; does not promote vaccine use | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/21/2025 | Number | 14173 | Theme | Government | Title | Ending Illegal Discrimination and Restoring Merit-Based Opportunity | Description | Ends diversity, equity and inclusion programs in federal agencies. Instructs the attorney general and the Office of Management and Budget director to submit a report within four months with recommendations on discouraging DEI programs in the private sector. The attorney general and the education secretary also have four months to issue guidance to educational institutions about complying with the Supreme Court decision that struck down affirmative action programs in college admissions. | Additional notes and updates | Lawsuit argues EO unconstitutionally violates 5th amendment due process for vagueness; 1st Amendment's free speech clause and separation of powers; seeks preliminary and permanent injunctions against both. On 21 Feb., Judge Abelson granted a preliminary injunction in large part, but also denied the preliminary injunction in part to allow the Attorney General to engage in an investigation. An appeal was submitted by the defendant on 24 Feb. | Environmental impact overview | None | Social impact overview | Ends diversity, equity, and inclusion programs in federal agencies and seeks to make recommendations to discourage these programs in the private sector. | Implications for investors focused on sustainability | Potential incremental risk to investors focused on diversity and equality, as challenges introduced for US corporate diversity reporting and transparency. |
Date signed | 1/20/2025 | Number | 14172 | Theme | Socio-cultural | Title | Description | Changes the name of Denali back to Mount McKinley, after the name was changed in 2015, and renames the Gulf of Mexico as the Gulf of America in federal references. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Disregards the original name of the mountain, Denali, from the indigenous people of what is now the United States. Changing the name to that of a Western explorer does not properly reflect the contributions or presence of the indigenous people of this country. | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/20/2025 | Number | 14171 | Theme | Government | Title | Restoring Accountability to Policy-Influencing Positions Within the Federal Workforce | Description | Reinstates the “Schedule F” policy from the first Trump administration that converts civil servants to political appointees, allowing them to be more easily dismissed. Notes employees are not required to personally support the president, but they are required “to faithfully implement administration policies to the best of their ability.” Instructs the director of the Office of Personnel Management to identify within 30 days other positions that could be converted. | Additional notes and updates | Multiple lawsuits filed claiming the executive order violates laws passed by Congress to provide civil-service protections to the majority of civil servants, excluding Senate-confirmed political appointees. Some are seeking an injunction enjoining the administration from implementing the executive order | Environmental impact overview | None | Social impact overview | Eliminates protections for civil servants, many of whom serve under administrations of both parties | Implications for investors focused on sustainability | Uncertain investment implications in the short term |
Date signed | 1/20/2025 | Number | 14170 | Theme | Government | Title | Reforming the Federal Hiring Process and Restoring Merit to Government Service | Description | Reforms the federal hiring process to “prevent the hiring of individuals based on their race, sex, or religion, and prevent the hiring of individuals who are unwilling to defend the Constitution or to faithfully serve the Executive Branch.” It also makes other changes to federal hiring, like decreasing the time it takes to hire employees and improving communication on the hiring process with prospective employees. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Removes considerations of racial, gender, or religious diversity in federal hiring processes | Implications for investors focused on sustainability | Limited investment implications in the short or long term |
Date signed | 1/20/2025 | Number | 14169 | Theme | International Affairs | Title | Description | Declares a 90-day pause in U.S. foreign development assistance and calls for a full-scale review of all programs at the end of the 90 day period. | Additional notes and updates | Update: 21 Feb - Judge Nichols rejected the preliminary injunction and temporary restraining order based on his reasoning that plaintiffs can pursue remedies with administrative bodies governing disputes; does not constitute irreparable harm; 7 Feb 2025 - temporary restraining order issued preventing USAID from placing employees on administrative leave or evacuating them; request for restraining order on funding freeze rejected; lawsuit seeks temporary restraining order and preliminary injunction to halt efforts to shut down the agency; there has been a waiver for select health and humanitarian programs; some courts have granted orders for existing invoices to be paid related to select health-related activities | Environmental impact overview | None | Social impact overview | Reduces funding for global health, hunger, and other humanitarian initiatives | Implications for investors focused on sustainability | Limited investment implications in the short term, over the longer term, possible negative macro implications in emerging markets (particularly LDCs) | |
Date signed | 1/20/2025 | Number | 14168 | Theme | Socio-cultural | Title | Description | Asserts U.S. policy recognizes two sexes, male and female. Directs federal agencies to use the term “sex,” not “gender,” and to ensure federal personnel records and government-issued documents, such as passports, “accurately reflect the holder’s sex.” Directs agencies to ensure federal funds “do not promote gender ideology.” Bars federal funds from being used for gender transition health care in prisons and mandates single-sex spaces be designated. | Additional notes and updates | Update: On 26 Jan, judge reportedly issues a temporary restraining order to not transfer a transgender female inmate from the general population of the women's facility; On 4 Feb, another judge issues a temporary restraining order to block government from transferring transgender inmates or discontinuing their care. Lawsuit claims the order violates Tenth Amendment. Another lawsuit claims removal of information on gender ideology from HHS websites is an arbitrary and capricious act; violating the Administrative Procedure Act. Similar lawsuits have also led to temporary restraining orders. | Environmental impact overview | None | Social impact overview | Removal of data on sexual orientation and gender identity of US population from government websites such as the Census Bureau or CDC limits research on the health of and economic impacts to LGBTQ+ individuals. | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/20/2025 | Number | 14167 | Theme | Defense and National Security | Title | Clarifying the Military's Role in Protecting the Territorial Integrity of the United States | Description | States national policy is for armed forces to protect U.S. borders. Requires the defense secretary to deliver a plan to seal the border and prevent unlawful mass migration, narcotics and human trafficking, and other criminal activities within 10 days. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Seeks to reduce the flow of narcotics and instances of human trafficking in the United States | Implications for investors focused on sustainability | Limited investment implications in the short or long term |
Date signed | 1/20/2025 | Number | 14166 | Theme | Socio-cultural | Title | Application of Protecting Americans From Foreign Adversary Controlled Applications Act to TikTok | Description | Instructs the attorney general to not enforce a ban on TikTok, which was enacted by Congress in 2024 and upheld by the Supreme Court this year, for 75 days. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term |
Date signed | 1/20/2025 | Number | 14165 | Theme | Immigration | Title | Description | Calls for a "physical wall and other barriers" on the southern border; the detention and prompt removal of those who violate federal or state laws (including immigration laws); ends a protected status program for Cubans, Haitians, Nicaraguans and Venezuelans; Asserts migrants must be "returned to the territory from which they came" during removal proceedings; and terminates "CBP One" app. | Additional notes and updates | ACLU and Las Americas Immigrant Advocacy Center filed a motion for a temporary restraining order. Additional lawsuits cite racial animus from current DHS Secretary Kristi Noem. | Environmental impact overview | None | Social impact overview | Eliminates temporary protected status for applicable immigrant groups, including Venezuelans and Haitians | Implications for investors focused on sustainability | Limited investment implications in the short term until the order is enacted. Depending on the scope and degree of implementation, this might have negative implications for the labor pool of some industries. | |
Date signed | 1/20/2025 | Number | 14164 | Theme | Crime | Title | Description | Defends the use of capital punishment "where possible" and directs the attorney general to seek the death penalty if a law enforcement officer is murdered or if someone in the U.S. illegally commits a capital crime. Asks the attorney general to study the 37 death row inmates whose sentences were commuted in the prior administration and make sure they are "imprisoned in conditions consistent with the monstrosity of their crimes and the threats they pose," as well as check to see if these inmates are eligible to be charged with state capital offenses. Calls on the attorney general to help keep drugs needed for lethal injections available. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | Research aggregated by the Death Penalty Information Center (DPI) shows the death penalty is consistently more expensive to taxpayers than life imprisonment and demonstrates "racial disparities continue to define federal capital prosecutions." | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/20/2025 | Number | 14163 | Theme | Immigration | Title | Description | Suspends refugee resettlement in the U.S. Directs the Secretary of Homeland Security and the Secretary of State to submit a report to Trump within 90 days detailing whether refugee resettlement should resume, as well as to submit subsequent reports every three months until Trump decides to no longer suspend refugee resettlement. | Additional notes and updates | Judge Whitehead issued a preliminary injunction barring implementation of the executive order on 10 February; in another lawsuit, Judge McFadden ordered an expedited briefing schedule for the preliminary injunction motion. | Environmental impact overview | None | Social impact overview | Denies admission of approved refugees and leaves many refugees in vulnerable situations | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/20/2025 | Number | 14162 | Theme | International Affairs | Title | Putting America First in International Environmental Agreements | Description | Calls for the U.S. ambassador to the United Nations to withdraw the United States from the Paris Agreement, an international climate accord that included targets for reductions in greenhouse gas emissions and provided funding globally to help countries reach those targets. | Additional notes and updates | Withdrawal can occur after 12 months following notice to the Paris Agreement. | Environmental impact overview | Limits the US ability to influence and participate in global policy on climate change, eliminates need to set or report progress on greenhouse gas emissions reductions, reduces global funding for the reduction of greenhouse gas emissions | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term. See “What do Trump’s executive orders mean for climate?” (24 Jan 2025) for more. |
Date signed | 1/20/2025 | Number | 14161 | Theme | Immigration | Title | Description | Calls for foreign nationals to be vetted and screened “to the maximum degree possible.” Directs agencies to submit a report within 60 days identifying any vetting concerns that could warrant suspending entry from certain countries and pinpointing the number of nationals admitted during the prior administration from those countries of concern. Gives agencies 30 days to evaluate visa programs and issue recommendations. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/20/2025 | Number | 14160 | Theme | Immigration | Title | Description | Instructs government agencies to not issue documents recognizing citizenship to people born to two parents who do not have lawful permanent residence or citizenship in the United States. | Additional notes and updates | The order has been temporarily blocked by a court due to a legal challenge based on the Constitution's 14th Amendment, which is currently interpreted to guarantee birthright citizenship for anyone born in the U.S., excluding the children of diplomats. | Environmental impact overview | None | Social impact overview | Disregards the current interpretation of the 14th amendment | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/20/2025 | Number | 14159 | Theme | Immigration | Title | Description | Directs the Attorney General and the Secretary of Homeland Security to establish Homeland Security Task Forces (HSTFs) in all states nationwide | Additional notes and updates | Lawsuit filed which claims the executive order is arbitrary and disregards legal and constitutional protections against wrongful removal; claims aspects of the order violates the Appropriations Clause and the First Amendment - seeks a temporary restraining order and preliminary injunction; another lawsuit related to the DOJ memo which implements this claims the executive order/memo violates the Tenth Amendment and Fifth Amendment and seeks a permanent injunction | Environmental impact overview | None | Social impact overview | Increases the likelihood of raids looking for undocumented immigrants, which may lead to family separation, and disrupt industry labor forces | Implications for investors focused on sustainability | Limited investment implications in the short term until the order is enacted. Depending on the scope and degree of implementation, might have negative implications for the labor pool of some industries. | |
Date signed | 1/20/2025 | Number | 14158 | Theme | Government/Technology | Title | Establishing and Implementing the President's "Department of Government Efficiency" | Description | Renames the United States Digital Service the U.S. DOGE Service and creates guidelines for this new organization aimed at "modernizing Federal technology and software to maximize government efficiency." | Additional notes and updates | As of 5 March, additional requests for injunctions have been submitted. As of 25 Feb, multiple requests for temporary restraining orders have been denied; however on 24 Feb, the court granted a temporary restraining order preventing the Department of Education and the Office of Personnel Management from disclosing sensitive information to DOGE affiliates. Update 6 Feb - Access to sensitive information provided to DOGE assistants with no security clearance; judge says only two Musk-affiliated staffers can access Treasury Department's payment system on a "read-only" basis, after workers' unions sued. Administration sued by National Security Counselors for DOGE to be a federal advisory board with "fairly balanced" membership and public transparency. | Environmental impact overview | None | Social impact overview | Seeks to develop a new department without Congress approval. | Implications for investors focused on sustainability | Limited investment implications in the short term at the portfolio level; however, many have larger longer-term impacts on companies deriving a significant portion of revenue from government contracts. |
Date signed | 1/20/2025 | Number | 14157 | Theme | International Affairs | Title | Description | Calls on key Cabinet secretaries to create a list of cartels and similar groups (including Tren de Aragua, also known as TdA, and La Mara Salvatrucha, also known as MS-13) to consider for designation as terrorist organizations. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/20/2025 | Number | 14156 | Theme | Energy | Title | Description | States agencies can leverage emergency authorities to support all aspects related to energy production and expedite the completion of authorized infrastructure. | Additional notes and updates | N/A | Environmental impact overview | Prioritizes the energy sources in EO 14154 which are largely fossil fuels. Leveraging emergency measures may reduce inclusion of environmental and physical safety regulations and testing. | Social impact overview | Reduces permitting needed and increasing infrastructure development may reduce environmental testing and community engagement, leading to more communities exposed to the negative externalities from fossil fuel production | Implications for investors focused on sustainability | Creates volatility tied to environmental sustainability topics, but we see limited near-term risks. See “What do Trump’s executive orders mean for climate?” (24 Jan 2025) for more. | |
Date signed | 1/20/2025 | Number | 14155 | Theme | International Affairs | Title | Withdrawing the United States From the World Health Organization | Description | States the U.S. intends to withdraw from the World Health Organization and instructs the Secretary of State to inform the United Nations and WHO of the withdrawal. Instructs the secretary and Office of Management and Budget director to pause U.S. funds, support and resources to the WHO, reassign personnel working with the WHO, and identify other domestic and international partners to take over WHO activities. | Additional notes and updates | Congressional approval might be needed for the US to withdraw from WHO. | Environmental impact overview | None | Social impact overview | Might limit US health authorities' access to global research on viruses and health risks; reduces funding for global health initiatives | Implications for investors focused on sustainability | Limited investment implications in the short term |
Date signed | 1/20/2025 | Number | 14154 | Theme | Energy | Title | Description | Eliminates the prior administration's emissions standards and electric vehicle mandate, promotes freedom to select appliances, including toilets and shower heads, not based on energy efficiency, and requests a review of any actions that could hamper domestic energy production. Encourages energy exploration and production on Federal lands and waters, including on the Outer Continental Shelf. | Additional notes and updates | N/A | Environmental impact overview | EO focuses on fossil fuel production as well as hydropower, biofuels, and nuclear energy, but does not explicitly identify solar and wind, key renewable energy sources. This could help speed along the development of nuclear but may also bypass safety regards to do so. | Social impact overview | None | Implications for investors focused on sustainability | Creates volatility tied to environmental sustainability topics, but we see limited near-term risks. See “What do Trump’s executive orders mean for climate?” (24 Jan 2025) for more. | |
Date signed | 1/20/2025 | Number | 14153 | Theme | Energy | Title | Description | Seeks to "maximize the development and production of natural resources" in Alaska on both federal and state lands. This order reduces barriers to permitting and leasing for energy projects in the state, expedites the development of liquid natural gas production, removes certain industry regulations. | Additional notes and updates | N/A | Environmental impact overview | Contributes to increases in greenhouse gas emissions. Potential risks to wildlife and biodiversity. | Social impact overview | Denies the pending request to establish an indigenous sacred site in the Coastal Plan of the Arctic National Wildlife Refuge | Implications for investors focused on sustainability | Creates volatility tied to environmental sustainability topics, but we see limited near-term risks. See “What do Trump’s executive orders mean for climate?” (24 Jan 2025) for more. | |
Date signed | 1/20/2025 | Number | 14152 | Theme | Government | Title | Description | Revokes security clearances of 51 former intelligence officials who signed a letter stating allegations around Hunter Biden’s laptop may have been tied to Russia. Instructs agencies to issue a report detailing “any inappropriate activity” related to the letter and any additional disciplinary actions. | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/20/2025 | Number | 14151 | Theme | Government/Socio-cultural | Title | Ending Radical and Wasteful Government DEI Programs and Preferencing | Description | Terminates all diversity, equity, inclusion and accessibility, and environmental justice programs, policies and mandates across the federal government, as well as related positions. | Additional notes and updates | Lawsuit filed argues EO is an unconstitutional violation of the Spending Clause and the 5th Amendment's due process guarantee for vagueness. Seeks preliminary and permanent injunctions. On 21 Feb, Judge Abelson granted a preliminary injunction in large part, but also denied the preliminary injunction in part to allow the Attorney General to engage in an investigation. An appeal was submitted by the defendant on 24 Feb. | Environmental impact overview | None | Social impact overview | Ends diversity, equity, and inclusion programs in federal agencies. | Implications for investors focused on sustainability | Potential risks for investors focused on diversity and equality, if listed companies with federal government contracts pull back commitments and transparency on diversity topics. |
Date signed | 1/20/2025 | Number | 14150 | Theme | Government | Title | Description | Directs the Secretary of State to align the State Department "with an America First foreign policy." | Additional notes and updates | N/A | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short or long term at the portfolio level. | |
Date signed | 1/20/2025 | Number | 14149 | Theme | Government | Title | Description | Bans government censorship of U.S. citizens and calls for an investigation into whether the former administration supported censorship of US citizens, with a focus on social media companies. | Additional notes and updates | In 2024, the Supreme Court dismissed a claim the previous administration unlawfully coerced social media companies to remove contentious content. | Environmental impact overview | None | Social impact overview | Suggests efforts to limit misinformation (including online fact-checking) infringed on constitutional rights, which may lead to a pullback on fact-checking and related efforts at a federal level and on certain social media platforms. | Implications for investors focused on sustainability | Limited investment implications in the short or long term | |
Date signed | 1/20/2025 | Number | 14148 | Theme | Government/Socio-cultural/Energy | Title | Description | Repeals over 30 executive orders, including the task force aimed at reuniting migrant families, orders around Covid and racial/gender equity and climate change, and certain protections for LGBTQ people and asylum policies. The repealed orders include dozens issued in the final weeks of the prior administration, including orders reworking department orders of succession, blocking certain oil and gas leases, and removing Cuba from the list of state sponsors of terror. | Additional notes and updates | Complaints filed from conservation and farming group argue the rescissions of certain executive orders is "in excess of [presidential] authority" or unlawful and seek related injunctions | Environmental impact overview | Repeals prior administration executive orders related to climate change | Social impact overview | Repeals prior administration executive orders about Covid, racial/gender equity, certain protections for LGBTQ people and asylum policies, and phasing out the use of private prisons. Reduces ability to study policy impacts and track data related to progress towards inclusion of underrepresented communities. | Implications for investors focused on sustainability | Potential incremental risk to investors focused on diversity and equality, as challenges introduced for US corporate diversity reporting and transparency. | |
Date signed | 1/20/2025 | Number | 14147 | Theme | Government | Title | Description | Requests a review of all civil or criminal enforcement activities, as well as intelligence actions, from the prior administration by the attorney general and all other federal agency heads to determine if any actions were taken with sole purpose of punishing political opponents. Requests recommendations for "appropriate remedial actions" where applicable. | Additional notes and updates | Lawsuit filed resulted in temporary restraining order which prohibits government from publicly releasing a list of those who worked on January 6th investigation. Briefings for a preliminary injunction will be filed by 21 March 2025. | Environmental impact overview | None | Social impact overview | None | Implications for investors focused on sustainability | Limited investment implications in the short term |
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