Republicans have expressed their concerns over the SEC overreach on Environmental Social and Governance (ESG) disclosure requirements for public companies. Democrats have been content to let the SEC move forward on regulating this disclosure issue.
A compromise approach sits with a Congressman Steil (R-WI) proposed amendment from 2019 that would simply require public companies to disclose ESG issues that are material to the company. This requirement would remove the SEC from setting “de facto” materiality standards for ESG and provide investors with relevant/material ESG disclosures.
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