Despite reports of a diminished role for environmental, social and governance (ESG) investing in the private funds industry and an outflow of capital from underperforming ESG funds, investor interest remains strong, and the market continues to be vibrant. In response, regulators – particularly in the U.S., U.K. and E.U. – are continuing to steadily enact regulations to ensure the burgeoning investment sector proceeds in a compliant and, unironically, responsible manner. To assist asset managers in navigating the complex, often conflicting and constantly evolving ESG landscape, Morgan Lewis hosted a webinar outlining and comparing global ESG regulations. The program was moderated by Carl A. Valenstein, and featured his partners Kelly L. Gibson, William Yonge and Elizabeth S. Goldberg. This first article in a two-part series details the status of the SEC’s recent rulemaking efforts, the Commission’s enforcement practices targeting ESG issues and the latest on the state-level anti-ESG movement, along with updates on sustainability-related rulemaking and enforcement actions in the U.K. The second article will summarize the attitude toward ESG and recent relevant initiatives in the E.U., Asia, Africa and the Middle East. For additional commentary from Morgan Lewis, see our two-part series: “Russia Sanction‑Related Difficulties and Japan’s Efforts to Become a Private Funds Hub” (Aug. 2, 2022); and “Broad Assessment of Regulatory Updates in the U.K. and E.U., and Trends in Shari’a‑Compliant Funds in the Middle East” (Aug. 16, 2022).