House Passes Bill Backing SEC's ESG Disclosure Plans
Law360 (June 16, 2021, 8:57 PM EDT) -- The U.S. House on Wednesday narrowly approved a bill backing the U.S. Securities and Exchange Commission's efforts to craft new rules requiring more comprehensive environmental, social and governance disclosures, though it squeaked by the House by just one vote and faces an uphill battle in the Senate.
Under the H.R. 1187, called the Corporate Governance Improvement and Investor Protection Act, the SEC would issue rules within two years requiring every public company to disclose climate-specific metrics in financial statements.
The rules would require metrics tied to greenhouse gas emissions, fossil-fuel-related assets and other risks posed by the changing climate, according to...
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