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To embed, copy and paste the code into your website or blog: On June 21, 2021, US financial regulators met with US President Joe Biden to discuss the US economy and update him on their efforts to address climate-related risks. According to the White House readout of the meeting, the regulators said “they were making steady progress” on implementing President Biden’s executive order on climate-related risk. The briefing follows last week’s passage of HR 1187, the Corporate Governance Improvement and Investor Protection Act, by the US House of Representatives 1 by a vote of 215 to 214. HR 1187 would mandate that the SEC create an ESG disclosure regime for public companies and provides numerous statutory requirements for those disclosures, including climate-related disclosures. Although the bill is unlikely to become law due to expected opposition in the US Senate, which requires a 60-vote supermajority to pass legislation, the passage of the HR 1187 by the House – ....
To print this article, all you need is to be registered or login on Mondaq.com. The Securities and Exchange Commission (SEC) announced in recent weeks multiple efforts to highlight climate change in corporate disclosures and to increase scrutiny and, potentially, enforcement focus on company disclosure efforts on climate and other environmental, social, and governance (ESG) matters. While the topic of ESG disclosures is not new, the increased attention to the topic, and climate change in particular, is noteworthy and expected to remain an area of focus at the SEC and under the Biden Administration more broadly. Existing Frameworks The question of whether and what companies should disclose to ....
To embed, copy and paste the code into your website or blog: State Senator Scott Weiner recently introduced the Climate Corporation Accountability Act (SB 260 or the Bill) on the California Senate floor. If enacted, SB 260 would create mandatory reporting of greenhouse gas (GHG) emissions for large corporations that do business in California. While California regulations currently encourage private entities to volunteer GHG emissions information regarding their inventories, goals, and agreements, SB 260 would make this disclosure mandatory for large corporations and would require those entities to produce a comprehensive, publicly available report detailing a wide array of GHG emissions directly generated by the company or incidental to business operations. ....