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ARTICLE · 25 JUNE 2021

SEC Climate Disclosure Requirements Become More Likely

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The U.S. House of Representatives has approved a bill backed by President Biden supporting the Corporate Governance Improvement and Investor Protection Act (the "Act"), H.R. 1187.

United StatesCorporate/Commercial Law
Cynthia M. Mabry
Cynthia M. Mabry
Christopher Treanor
Christopher Treanor
Amanda Marie Thienpont
Amanda Marie Thienpont
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The U.S. House of Representatives has approved a bill backed by President Biden supporting the  Corporate Governance Improvement and Investor Protection Act (the "Act"), H.R. 1187. The Act supports the Securities and Exchange Commission's (SEC) efforts to require every public company to disclose climate-specific metrics in public financial statements. Currently, companies must only disclose climate risks in securities filings if they deem such risks "material" according to the SEC's 2010 guidance.1 In an effort to increase transparency and standardize comprehensive environmental, social and governance (ESG) disclosures, the Act provides the SEC with, among other things, discretion to amend securities laws in order to incorporate ESG disclosure standards.

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