BGOV Bill Summary: H.R. 1187, Corporate Disclosure Package (1)

June 9, 2021, 8:19 PM; Updated: June 15, 2021, 7:08 PM

Publicly traded companies would have to disclose information on climate risks, political spending, tax jurisdictions, and executive pay raises under a modified version of H.R. 1187.

The legislative package incorporates five bills on environmental, social, and governance (ESG) issues that the House Financial Services Committee approved along party lines this year. The Securities and Exchange Commission (SEC) is eyeing similar requirements for businesses to report on climate risks and other ESG matters.

Several of those measures would “improve and enhance corporate disclosures and provide investors with material information,” committee Chair Maxine Waters (D-Calif.) said at a May 12 markup. ...

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